BAKU/09.12.13/TURAN : Total assets of Azerbaijani banks widened in October this year to 203.6 million or 1% to 19,604.1 million manat. From the beginning, the bank's assets grew by 18.6 %, and for the year to 4,125.9 million or 26.7%.
According to the Azerbaijani Central Bank, credit investments as of November 1 totaled 14,558.3 ??million manat, increasing the reporting month by 1.1%. Over the past year lending to the economy grew by 28.6%.
Deposits in banks in October increased 66 million or 1.1 %, to 6,303.4 million manat. This figure from the beginning of the year grew by 23.3 %, and for 12 months - 34.4%.
The total capital of the banking sector increased in the reporting month by 72.9 million or 2.3%, amounting to 3233.1 million manat. During the year the figure rose to 872.8 million or 37%. - 15B -
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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