Through the funds raised by the Central Bank of Republic of Azerbaijan (CBA), the obligations of Deka Bank by October 1 amounted to 115 million 710.58 thousand manat (an increase of 3.5 times from the beginning of the year). Approximately so grew the credit portfolio - 171 million 642 thousand manat.
Its assets also grew by 2.8 times, while stopping at the level of 181 million 534.32 thousand manat. On deposit accounts accumulated 7 million 176.18 thousand manat (+ 29.1%), most of which (5 million. 714.3 thousand) are deposits.
Equity capital in the first three quarters was at the level of 65 million. 823.7 thousand manat, increasing by 2.36 times, 2.2 times since the beginning of the year and increased the authorized capital - up to 52 million 767 thousand manat. It meets the requirements of the CBA, and even exceeds them.
During the reporting period, the bank worked with a profit (6 million 894.78 thousand manat).
Private JSC Deka Bank was founded in 1989. The founders are 9 individuals. Chairman of the Supervisory Board is Suraya Agayeva, Chairman of the Board is Niyazi Veliyev. --17D-
Economics
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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.
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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.
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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.
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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.
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