The assets of JSC «Kredobank» by 1 January amounted to 169 million 322.35 thousand manat (+ 23.2% a year.) There are little funds on deposit accounts – 34 million on 786 thousand manats (+ 12.1%), of which household deposits account for 19 million 64 thousand manat (+ 46%).
According to the bank, the loan portfolio by the end of the reporting period amounted to 110 million 957,000 manat (+ 5.8%) for commitments of 117 million 410 thousandmManat (+ 42.8%).The bank's capital on 1 January totaled 51,911,880manat (minus 6.1%) at constant authorized capital -50.54 million manat.The Bank worked in the past year with a loss of 2,855,470manat. The JSC «Kredobank» has been operating since February 1994. The shareholders are seven legal entities with a specific weight of 30% of shares and seven individuals (70%). --17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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