Assets of Rabitabank increased in January-September 2012, by 13%, reaching 148.16 million manat. The volume of issued and corporations loans grew by 15% to 103.59 million manat.
The total liabilities of the bank increased from 114.02 million to 122.09 million manat. The deposit portfolio increased 9.1% to 83.88 million manat, including term client investments that increased by 2.3% to 63.32 million manat.
The balance capital reached 26.06 million manat. The aggregate capital increased 46.7% to 24.47 million manat, and the paid charter capital grew by 60.7% to 21.61 million manat.
The income and expenses of the bank were respectively 13.49 million and 12.55 million manat. The net profit after tax amounted to 527 thousand manat. - 15B -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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