Assets of PASHA Bank made ??on 1 October this year, 683.223 million manat. The volume of loans increased by 69.38 million or 25% reaching at 350.268 million manat.
Deposit portfolio amounted to 304.415 million manat. Of these, 122.463 million manat fell to urgent client investments.
The total capital increased by 58.1 million or 33% reaching 236.181 million manat, and paid charter capital - 71 million or 45.2 % amounting to 228 million manat.
Revenues and expenses of the bank equaled respectively 49.346 and 41.159 million manats. Net income amounted to 8,187 million manat . - 15B -
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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