Assets of Ata Bank during the year increased to 580 million 316 thousand manat (+ 54.8%).
According to the report of the financial structure, above all expanded its loan portfolio (+ 94%), amounting to 444 million 964 thousand manat by January 1, while the deposits were 446 million 964 thousand manat, including deposits of population at 189 million 262 thousand manat.
The aggregate liabilities, including short-term ones, comprise 517,620,000 manat (+ 58.4%).
The equity capital as of 1 January was 62 million 696.2 thousand manat (+ 30.3%) and the share capital was 50 million manat (+ 33.3%).
The net profit for the year was 7 million 647 thousand manat.
Ata Bank OJSC was founded in 1994 and is part of the investment Ata Holding. --17D-
Economics
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Azerbaijan's industrial output from January to August 2024 reached 42.4 billion manats, driven by contributions from both industrial enterprises and individual entrepreneurs. However, despite this robust performance, shifts within key sectors highlight the evolving dynamics of the nation's economy.
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Azerbaijan, despite its larger natural and labor resources, is trailing behind its smaller neighbors Georgia and Armenia in banking sector development, according to Samir Aliyev, head of the Union for Economic Initiatives Support. His analysis of the financial performance of South Caucasus countries during the first half of 2024 paints a stark contrast to the country’s image as the economic leader of the region.
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The Caspian International Investment Company JSC ended 2023 with a net loss of 557,000 manats, a significant improvement compared to the previous year, when losses were four times higher. The company's pre-tax losses for the year amounted to 264,000 manats, 11 times lower than in 2022, while income tax payments of 293,000 manats highlighted the efficiency achieved through strategic fiscal management.
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The 24th Republican Beekeeping Exhibition and Fair opened in Baku on Monday, with around 120 tons of honey products on sale. The event features the participation of 275 beekeepers from 39 districts across Azerbaijan and will run until September 29.
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