OJSC "Xalq Bank" in the first three quarters of 2012 net profit after tax of 8.98 million manat, which is 4.2 times more than the figure recorded a year earlier. The bank's earnings were equal to 48.21 million manat, increasing by 11.8%, while its expenses decreased by 4.2% to 39.23 million manat.
Assets increased in January-September by 16.3% to AZN 831.48 million ($ 1.1 billion). The volume of issued and corporations loans grew by 41.1% and amounted to 625.61 million manat.
The total liabilities of the bank increased from 533.31 million to 634.74 million manat. Deposit portfolio increased by 22.6% to 512.97 million manat, including term client investments increased by 10.3% to 358.93 million manat.
The balance capital reached 196.74 million manat. The aggregate capital increased by 7.7% higher than the 186.62 million manat, and paid charter capital - by 20.4% to 169.1 million manat. - 15B -
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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