JSC Bank BTB has published the annual financial and administrative report (https://goo.gl/9sAiou) for 2015, according to which Nigar Mehdiyeva’s bank suffered a loss of 1 million 635 thousand manats.
At the beginning of the year, the bank’s total capital (50.5 million manat) corresponded to the minimum requirement of the Central Bank. Over the past year the bank's assets grew by 48.6% and exceeded 210 million manats.
During 2015 the credit portfolio of JSC Bank BTB grew by only 2.3 million manats, reaching 102.6 million manats. At the same time the bank’s deposits increased by 42.2% and made up 96.6 million mantas b y the beginning of 2016.
In 2014, the bank's net profit amounted to 1.8 million manats.
JSC Bank BTB has been operating since 2010 and has three shareholders, who are natural persons. -----08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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