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
-
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