The Share of Non-Interest Income of Bank Standard Shrinking
The revenues of Bank Standard in the first three quarters of this year amounted to 59.97 million manat. Of these, 16% were non-interest income, which in turn decreased compared to the same period last year by 13.2%. The share of non-interest income in total income for the year decreased by 6.6 percentage points, and as compared with January-September 2010 - by 10.4 percentage points. With the end of the third quarter of 2011 the bank hides data about its costs and the level of its total capital.
The assets increased in January-September 2012, up 11.3% to 767.16 million manat. The lending to individuals and businesses increased to 493.27 million manat.
The deposit portfolio amounted to 502.83 million manat. Of these, 399.01 million manat fell to urgent client investments.
The balance capital decreased 7.6 million or 10.9 percent to 62.33 million manat. The paid authorized capital remained at the level of AZN 75 million. - 15B -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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