According to the quarterly report of OJSC Azer Turk Bank, by April 1, its assets amounted to 1 billion 233.745 million manat (on 1 April of last year it was 382 million 443 thousand manat).
The loan portfolio was at the level of 417 million 411 thousand manat (it was 268 million 677 thousand). The deposits were at the level of 359 million 852 thousand manat (268 million 733 thousand).
The bank fulfilled the quarter with a profit of 7 million 889 thousand manat (1 million 214 thousand). The total capital grew from 55.73 million AZN to 60.72 million AZN.
OJSC Azer Turk Bank has operated under the CBA license from June 29, 1995. The main shareholder is the State Committee for Property Affairs (75%), while the remaining shares are distributed among the insurers Qala Hayat (6%) and AzRe (6.6%), as well as Turkish Ziraat bank (12.4%). --17D-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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