In 2016, Yapi Kredi Bank in comparison with 2015 reduced its assets by 7.23% or 34 million 557 thousand manat to 443 million 90 thousand manat.
During the reporting period the bank's liabilities decreased by 17 million 525 thousand manat, or 4.27%, to 392 million 165 thousand manat.
The bank has 70 million 710 thousand manat of deposits.
The bank's capital during this period decreased by 17 million 33 thousand manat or 25% to 50 million 924 thousand manat.
Yapi Kredi Bank completed 2016 with a loss of 10 million 327 thousand manat.
The bank's authorized capital is 46 million 810 thousand manat. 71D
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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