VTB Bank (Azerbaijan) improved financial performance and showed positive momentum in all major destinations.
As of September 1 of the current year VTB Bank (Azerbaijan) assets reached 443.6 million AZN, which exceeds the same indicator of previous year by 17%.
According to Turan, referring to the Bank, in the reported period the growth of deposits was 37%.
The loan portfolio increased by 9%, amounting to 377.3 million manats.
In its structure more than 60% are business loans. --71D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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