BAKU/18.12.13/TURAN : JSC Pasha Bank in the first 11 months of 2013 had a net profit of $ 9.86 mln, which is 16.5 % less than in the same period in 2012 . The bank's earnings equaled 58.94 million manat and expenditures - 49.09 million manat, increasing by 10.8 % , respectively , and 18.6%.
Assets widened in January-November by 1.3 %, amounting to 751.59 million manat. Volume issued to individuals and legal entities grew by 28.7 %, amounting to 361.62 million manat.
Deposit portfolio decreased by 25.9 %, amounting to 338.66 million manat, including term client investments decreased by 43.4 % to 109.51 million manat.
The total capital increased by 33.6 % to 237.82 million manat and paid charter capital - by 45.2 % reaching 228 million manats. - 15B -
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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