JSC Bank Silk Way released data for the 3rd quarter of this year - its assets by 1 October were 233,460,000 manat (+ 14.9% on 1 January) at the loan portfolio was 166,700,000 manat (+ 13.7%).
The liabilities, including long-term ones, of this financial structure by the end of the reporting period were equal to 125,010,000 manat (+ 25.9%). Deposits in the bank at the end of September 2014 amounted to 54,510,000 manat (+ 19.9%), of which the deposits of the population were AZN 41.724 million (+ 64.8%).
The authorized capital increased by 5.9% to 105 766 630 manat, and slightly higher was the level of equity - 108 445 740 manat (+4.3%).
The net profit by the results of January-September amounted to 6,435,250 manat.
JSC Bank Silk Way has been in effect from 25 January 2008 (it was previously called Azal Bank). The shareholders are two individuals and one entity. --17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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