The assets of Yapi Kredi Banki fell in January-June of this year by 12.1% to 210.06 million manat. The lending to individuals and businesses increased 0.8% to 125.57 million manat.
The deposit portfolio as of July 1 of this year amounted to 89.09 million manat. Of this, 26.71 million manat accounted for urgent client investments.
The balance capital grew by 7.4% to 63.73 million manat, and the total capital grew by 5.8% to 60.54 million manat. The paid charter capital for the period increased 23% to 46.81 million manat.
The income and expenses of the bank were respectively 14.59 million and 11.03 million manat. The net profit after tax amounted to 3.03 million manat. - 15B -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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