JSC Parabank in the first three quarters of 2013 had a net profit after tax of 1.61 million manat, which is 70.2 % more than the same period in 2012. The bank's earnings were equal to 15.49 million manat , expenses - 13.69 million manat, increasing by 7.6 % and 1.5 %.
Assets increased in January -September up 9.3 % to 119.77 million manat. The volume of loans increased 14.6 % to 87.14 million manat.
The total liabilities of the bank increased from 90.11 million to 98.75 million manat. The deposit portfolio increased by 8 % to $ 68.69 million manat, including term client investments increased by 6.9 % to 63.74 million manat.
The balance capital grew by 7.9 % to 21.02 million manat, and the total capital - by 9.5 % higher than the 18.45 million manat. Paid charter capital remained unchanged totaled 11.57 million manat. - 15B -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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