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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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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