AFB Bank's net profit for the first half of 2016 amounted to 2,604,353 AZN. In comparison with the similar period of 2015 there was growth of 2.78% (72,598 AZN).
The bank's assets for the reported period amounted to 301,620,945 AZN (compared to the same period in 2015 growth of 5% or 15,109,420 AZN).
The total liabilities of AFB Bank compared to the same period in 2015 increased by 5.8% (12,957,452 AZN), amounting to 222,589,789 manats.
The total capital of the bank for the first six months of 2016 increased compared to the same period last year by 2.7% (2,151,966 AZN) and amounted to 79,031,155 manats.
The bank's authorized capital is 70,393,455 manats. -----75D
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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