Assets of the private bank "BankSilkWay" for July 1 total up to 216 million 565 thousand manats (6.6% a year earlier).
According to the financial structure, its loan portfolio is 162.65 million (+9.9%) with obligations 108.69 million manats. Deposits at the bank amounted to 47.34 million manat, among which there are the deposits of the population - 36 million 315 thousand manats (+ 9.7%.)
The authorized capital stock is unchanged and totals 97 million 129.89 thousand manats, total capital - 107 AZN 870.99 million (+ 3.4%). Bank worked in the first half with a net profit - 853.88 5 million manats.
The JSC BankSilkWay is effective since January 25, 2008. Shareholders of the bank are the two individuals and one entity. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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