As of March 1, 2013 assets of TuranBank totaled 218.8 million manat, increasing by 28.2% compared to the same period of 2012. At balance sheet date the loan portfolio amounted to 163.6 million manat, which is 1.3% more than at the beginning of 2013 and by 29.2% than in the same period in 2012.
In January-February 2013, the portfolio of deposits increased by 3.8%, while compared to the same period in 2012 by 20.5%. In the structure of the deposit portfolio of term deposits amounted to 58.2 million manat, increasing by 8.6%.
Aggregate capital of TuranBank in comparison with the beginning of the year increased 2.8% to 34.8 million manat. The authorized capital from the beginning of the year increased 36.4% reaching the level of 30 million manat.
By results of January-February 2013, the revenues and expenses of the bank were respectively 4 million and 3.1 million manat. Balance sheet profit for the period was 0.93 million manat. - 15D -
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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