Rabitabank capitalization increased in 2012 by more than 2 times
JSC Rabitabank growth in assets in 2012 by 25.51 million or 19.4%, improved to 156.74 million manat. Lending to individuals and businesses increased by 15.3 million or 17.1% amounting to 105.45 million manat.
The total liabilities of the bank increased from 114.02 million to 122.74 million manat. The deposit portfolio increased by 7.62 million or 9.9%, reaching 84.47 million manat, including term client investments that increased by 3.7% to 64.19 million manat.
The balance capital reached 33.99 million manat. The aggregate capital increased by AZN 16.22 million or 97% to 32.91 million manat, and the paid charter capital - by 16.5 million or 2.2 times to AZN 30 mln.
The bank's earnings were equal to 18.49 million manat and the expenditures were AZN 18.3 million, an increase compared to 2011, respectively, 22.5% and 10.2%. The net profit after tax for the year amounted to 53,300 manat. -15B-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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