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There are only four unprofitable banks
Banks of Azerbaijan until 1 May 2013 gave customers 11 billion 887.3 million manat loans (+11.3% YTD), equivalent to 62.6% of total banking assets - previously The Central Bank reported that this figure has increased in January-April, with 17 billion 643.4 million to 18 billion 979.8 million manat.
In the structure of the banking system assets share investments amounted to 1 billion 604 million or 8.4% (+0.2%), banks' correspondent accounts - 1 billion 308.9 million or 6.9% of assets (minus 9.4%), the proportion of cash - 766.7 million manat or 4% (+9.4%). The share of loans and deposits of the financial sector is 3.5% of total assets, or 669 million manats (minus 3.9%), other assets are 2 billion 743.8 million or 14.5% (+8.8%).
In the structure of liabilities the largest share is bank liabilities - 85.7% of the total mass, or 16 billion 265.1 million manat (+7.8% YTD). The share of bank capital is 14.3%, or 2 billion 714.6 million manat (6.2%).
Cumulative net profit of banks is equal to 113.49 million manat (+38.1% compared to the same period last year). Almost all banks (39 of the existing 43) completed the January-April at a profit (+3 compared to May 1, 2012). The amount of losses of the remaining four banks is 7.48 million manat.
As of May 1, 2013 a license to operate had 43 banks, according to the CBA. - 17D-
Economics
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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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