The International Bank of Azerbaijan (IBA) increased its assets in 2012, up 17.5%, to 5891.361 mln. The volume of issued and corporations loans increased by 22.2% to 3856.236 million manats.
The total liabilities of the bank increased from 4308.479 to 5345.441 million manats. Deposit portfolio increased by 9.8% to 2406.347 million manats, including term client investments increased by 32.7% to 1,509.457 mln.
Balance capital decreased by 22.6% to 545.920 million manat. Aggregate capital increased by 40.4% over 720 million ($ 917 million), and paid charter capital - by 37.8% to 330.834 million manat.
The bank's earnings were equal to 377.778 million manat, and its expenses were 334.384 million manat, increasing compared to 2011, respectively by 12.1% and 6.9%. Net profit after tax increased 80.1% to 43.394 million manat. - 15B -
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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