Total assets of banks in Azerbaijan rose in May of this year by 212.24 million or 1.1% to 19,192 million manat. From the beginning, the bank assets increased 8.8% and for the year - by 29.5%.
According to the Central Bank of Azerbaijan, on June 1, 2013 the amount of cash in banks amounted to 720.6 million manat, funds in correspondent accounts amounted to 1,243.8 million manat, lending financial sector - 675.7 million manat, customer lending - 12,165.5 mln AZN, investment - 1,607.3 million manats, other assets - up to 2,779.1 million manat.
Liabilities of banks increased in the reporting month by 153.98 million or 0.9% to 16,419.10 million manat. Of these, 8,487.1 million manat was deposits, 5,542.6 million manat - funds with the financial sector and 2,389.4 million manat - other liabilities.
The total capital of banks increased over the year by 585.7 million or 26.7%, and in May - by 58.3 million manat, or 2.1 percent to 2,772.9 million manat. - 15B -
Economics
-
Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), and Oleg Korobchenko, Deputy Prime Minister and Minister of Industry and Trade of the Republic of Tatarstan, discussed cooperation and expressed satisfaction with the partnership between SOCAR and the Russian oil company Tatneft.
-
Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
-
The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 10% stake in Israel’s Tamar gas field and a 3% share in the SARB and Umm Lulu offshore oil projects in Abu Dhabi—signal its growing ambitions beyond Azerbaijan’s borders.
-
BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
Leave a review