The credit portfolio of JSC Zamin Bank by the beginning of the year was at the level of AZN 304.17 million (minus 4.9%), while consumer loans declined most of all (minus 12% to 191 million 247 thousand manats).
According to the bank, its assets also significantly reduced (minus 3.6% to 484 million 263 thousand manats). The bank regularly pays on its obligations - by January 1, they were 414 million 217 thousand manats (minus 4.1%).
The level of investments on deposit accounts also reduced to 87.04 million manats (minus 17.8%), of which a large part is deposits of the population - 81.55 million manats (minus 17.3%).
The bank’s equity capital also declined by 0.2% - to 56 million 248.74 thousand manats at a still constant authorized capital of 52 million 181.8 thousand manats.
Last year the bank worked with a loss of 67 thousand manats.
JSC Zaminbank was created in 1992. The main shareholder is Nadir Ismayilov (98.544%), his brother Mahir has 1.45% and the remaining shares are at Elizabeth Mileshkina. --17D-
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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