Until July, the Bank Nikoil worked with profit
Assets of the Investment and Commercial Bank Nikoil from January to July increased by 16% - up to 308.972 million manat.
According to an official of the financial structure, its loan portfolio during the reporting period amounted to 250.73 million manat (11.9% YTD). Liabilities of the bank by the end of the first half are 262,376,000 manats (18.1%). Deposits in the bank by July 1 totaled 198.896 million manat (15.1%).
The bank's equity is equal to 46.596 million manat (5.38%) at a constant in the authorized capital of 34.5 million manat.
Net profit structure up to six months amounted to 2.38 million manat.
Shareholders of the bank are Topaz Investment, JSC NIKOIL, Ltd Uralsib-Invest and ISR Holding. - 17D
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- Politics
- 30 July 2014 15:47
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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