JSC Expressbank for the first half 2013 net profit after tax of 5.16 million manat, which is 23.5% less than the same period in 2012. The bank's earnings were equal to 15.64 million manat, and expenses - 9.78 million manat, increasing by 1% and 14%.
Assets decreased in January-June, up 8.5% to 229.65 million manat. The volume of issued and corporations loans increased by 42.2% and amounted to 148.04 million manat.
The total liabilities of the bank decreased from 148.89 million to 108.13 million manat. Deposit portfolio decreased by 36% to $ 87.22 mln, while the client-term investments increased by 20.4% to 34.24 million manat.
Balance sheet assets reached 121.51 million manat. The total capital increased by 19.6% higher than the 119.15 million manat, and paid charter capital - by 16.3% to 101.71 million manat. - 15B -
Economics
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The Azerbaijani government is determined to stabilize oil production. This intention was announced by President Ilham Aliyev earlier this year. "Work is underway to stabilize oil production, and I believe we will see results in the near future. We need stable oil production, and this task has been set before the investors," he remarked during one of his speeches.
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Representatives from the World Bank, Azerbaijan’s Ministry of Digital Development and Transport, and the leadership of the Baku International Sea Trade Port (BISTP) convened in Alat on Monday to discuss the implementation of the second phase of the port’s development, the largest on the Caspian Sea.
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Investments in Azerbaijan's fixed capital totaled 15.91 billion manats ($9.36 billion) in the first 11 months of 2024, marking a 3.8% decline compared to the same period last year, official data showed on Thursday by the State Statistics Committee.
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Discussions surrounding the implementation of a landmark renewable energy project on the Absheron Peninsula took center stage at a December 11 meeting hosted by Azerbaijan’s State Agency for Renewable Energy (AREA) under the Ministry of Energy. The project, initiated through a memorandum of understanding signed on March 1 in Baku, involves collaboration with the Spanish engineering giant Elecnor.
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