The assets of Turan Bank in 2016 compared to 2015 increased by 10 million 522 thousand manat or 2%, to 528 million 222 thousand manat.
By the end of 2016 the bank's liabilities amounted to 468 million 987 thousand manat, including customer deposits of 226 million 177 thousand manat.
The bank's capital grew by 20.9%, or 10 million 254 thousand manat to 59 million 235 thousand manat.
In 2016 the bank completed the year with a loss of 1 million 398 thousand manat. ----71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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