Assets of Xalq Bank increased in January -June of 2013 by 49.4 % and reached 1276.92 million manat. The volume of issued and corporations loans increased by 46.9 % and amounted to 964.58 million manat.
The total liabilities of the bank increased from 652.84 million to 1,066.41 million manat. The deposit portfolio increased by 65.9 % to 867.87 million manat, including term client investments increased by 42.1 % to 518.06 million manat.
The balance capital grew by 4.3 % reaching 210.51 million manat, and the total capital - by 3 % above the 197.1 million manat. The paid charter capital remained unchanged totaled 169.09 million manat.
The bank's earnings were equal to 34.1 million manat and expenditures - AZN 30.85 million, an increase compared to the same period in 2012 respectively by 15.2 % and 17 %. The net profit after tax decreased 0.1 % to 3.33 million manat. - 15B -
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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