Net profit of Pasha Sigorta in 2016 amounted to 19 Million Manat
The assets of the insurance company Pasha Sigorta OJSC in 2016 increased by 19,470,176 manat or 17.2% compared to 2015, making 132,640,323 manat.
The company's capital grew by 2,030,919 manat or 2.9% and is 72,041,642 manat.
During the reporting period, the obligations of Pasha Sigorta amounted to 60,598,681 manat (an increase of 17,439,258 manat or 40.4%).
In 2016, the company's revenues amounted to 104,643,199 manat, and its expenses were 80,983,652 manat.
The company received 19,386,918 manat of net profit.
OJSC Pasha Sigorta is included in the group of companies Pasha Holding. The insurance company’s authorized capital is AZN 50 million. ----71D
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- Question-answer
- 30 March 2017 13:39
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- Economics
- 30 March 2017 14:43
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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