Xalq Bank Assets Exceeded 1.27 Billion Manat
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
-
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.
-
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.
-
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.
-
"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.
Leave a review