Vadim Zinoviev was appointed member of the Management Board of VTB Bank (Azerbaijan).
As Turan was told in the press service of the bank, Zinoviev is the Director of the bank’s Risks and Monitoring Department. In this position he is responsible for risk management and work with problem debts.
Vadim Zinoviev has been working in VTB Group since January 2013, when he took over the direction of the monitoring of credit transactions in the Bank of Moscow. Since December 2015 has has been Director of the Risks and Monitoring Department of VTB Bank (Azerbaijan).
As of October 1, 2015 the credit portfolio of VTB Bank (Azerbaijan) was 341,100,000 manats, of which about 43 million manats or 12.6% was overdue. -----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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