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 September 20, 2024, Volts Energy Ltd., an engineering company based in Abu Dhabi, and Azerbaijan’s Turan Energy LLC announced the creation of a new joint entity, TuranVoltsEnergy. This venture will focus on EPC (Engineering, Procurement, and Construction) projects in renewable energy and energy storage systems within Azerbaijan.
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The number of passengers traveling by air from Azerbaijan has seen a significant increase in 2024, rising by 26.7% from January to September compared to the same period last year. According to the State Agency for Tourism, a total of 2,548,897 people used air transport services to travel to 40 countries during this period.
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Azerbaijan’s prolonged border closures, approaching five years, have taken a profound toll on the labor market, particularly in border regions, where cross-border trade and services were once critical economic drivers. Official data highlights the stark disparity between the growing labor force and the lack of new job creation in these areas, underscoring the social and economic challenges faced by residents.
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Azerbaijan’s food imports have surged to unprecedented levels, with a significant rise recorded in the first nine months of 2024, according to data from the State Customs Committee. Food imports for January-September reached USD 1.755 billion, marking an 11.4% increase over the same period last year. This represents a USD 179.7 million increase compared to 2023, setting a record for food imports in the country’s history. Over the past decade, food imports have more than doubled, rising by 2.4 times, with a notable 52.5% growth in the last five years alone.
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