Rabita Bank completed the year 2016 with a loss of 12 million 873 thousand manat.
In 2016 compared to 2015, the bank's assets increased by 101 million 557 thousand manat or 22.5% to 552 million 288 thousand manat.
During the reporting period, the bank's liabilities increased by 30% or 116 million 998 thousand manat, reaching 506 million 677 thousand manat.
Timed deposits from customers over a specified time were 255 million 474 thousand manat (an increase of 31 million 736 thousand manat or 14.18%).
The bank's capital was reduced by 15 million 440 thousand manat or 25.28% to 45 million 612 thousand manat.
The bank's authorized capital is 48 million 500 thousand manat. ------71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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