JSC Turanbank increased in the first half of this year, assets by 11% to 245.71. The credit portfolio during the reporting period increased by 9.4%, amounting to 175.89 million manat.
Total liabilities increased from 184.27 million to 198.83 million manat. The deposit portfolio increased by 8.9% to 98.53 million manat, including term client investments increased by 4.2% to 51.82 million manat.
Balance sheet assets reached 47.17 million manat. The total capital increased by 30% to 43.83 million manat, and paid charter capital - by 33.3% amounting to 40 million manat. - 15B -
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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