The assets of JSC Qafqaz Inkishaf Banki as of October 1 increased by 8.4% to 159 million 363.2 thousand manat. Thus its loan portfolio in the reporting period was at 151 million 336.5 thousand manat (+ 18.2%).
The liabilities also rose by 13.9% to 95 million 121.6 thousand manat. Net profit stood at 967.7 thousand manat. Slightly (+ 1.1%) increased equity capital - 64 million 241.5 thousand manat at constant (60 million manat) of the authorized capital.
On deposit accounts accumulated 8 million 448 thousand manat (+ 3.5%), of which the main part consists of deposits of the population - 7 million 789.4 thousand manat (minus 1.4%).
JSC Qafqaz Inkishaf Banki has been operating from April 1996. The head of the Supervisory Board is Eldar Ismayilov and the Chairman of the Board is Zeki Kangarli. --17D-
Economics
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Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
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In the first nine months of 2024, Azerbaijan’s alcohol and non-alcoholic beverage production totaled a mere $53 million, underscoring the dismal outcomes of the State Program for the Development of Winemaking (2018–2025). Despite being endorsed by the president in 2018, the program has delivered lackluster results despite formal state funding. In essence, the state intervention intended to foster growth in the industry has yielded minimal success.
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Azerbaijan and EIB Global, the European Investment Bank’s external branch, signed a Memorandum of Understanding (MoU) at the COP29 climate summit to modernize and expand the Baku metro network, officials said on Thursday.
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