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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The 12th International Caspian Energy Forum commenced today in Baku, organized by the Caspian Energy Club in collaboration with Enermus, bringing together over 500 delegates from across the Caspian-Black Sea and Baltic regions.
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The World Bank has recommended that Azerbaijan cut subsidies in its water sector to enhance system sustainability and address the escalating issue of water scarcity, Stephanie Stollmeister, Manager of the World Bank Representative Office in Azerbaijan, reported.
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Last week, the Central Bank of Russia raised the interest rate from 18% to 19% annually. The decision to increase the rate was made against the backdrop of rising inflation expectations among the public and businesses.
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Azerbaijan’s Cabinet of Ministers has announced a detailed timeline for the mandatory transition of labor contracts to an electronic document format, in accordance with a decree issued by the President of Azerbaijan on June 28, 2024. The resolution, signed on September 17 by Prime Minister Ali Asadov, outlines phased implementation deadlines for different categories of employers, with the aim of modernizing labor documentation and improving efficiency.
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