JSC Parabank in the first three quarters of 2012 had net profit after tax of 942 thousand manats, which is 7.7 times more than the figure recorded a year earlier. Bank's earnings were equal to 14.42 million manat and expenditures - AZN 13.48 mln, down respectively by 2.2% and 7.5%.
Assets increased in January-September, up 4.3% to 109.33 million manat. Lending to individuals and businesses increased by 6.2% and was equal to 78.68 million manat.
Total liabilities of the bank increased from 91.77 million to 95.57 million manat. Deposit portfolio decreased by 2.2% to 62.86 million manat, including term client investment that decreased by 4.7% to 57.26 million manat.
Balance capital grew by 6.2% to 13.76 million manat, and the total capital - 28.6% higher than the 16.23 million manat. Paid authorized capital remained at 11.57 million manat. - 15B -
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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