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
-
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.
-
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.
-
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.
-
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.
Leave a review