JSC Zaminbank in the first quarter of 2013 received net profit after tax of 4.59 million manat, which is 2.9 times more than the same period in 2012. The bank's earnings were equal to 7.06 million manat, and expenses - 2.46 million AZN decreased respectively by 17.4% and 64.3%.
Assets increased in January-March, up 3.9% to 393.78 million manat. The volume of issued and corporations loans grew by 1.5% and amounted to 240.59 million manat.
The total liabilities of the bank declined from 333.9 million to 331.43 million manat. Deposit portfolio decreased by 14.2% to 87.21 million manat, with urgent client investments increased by 18.5% to 72.98 million manat.
Balance sheet assets reached 62.34 million manat. The total capital grew by 18.9% higher than the 50.8 million manat, and paid charter capital - by 13.4% to 42.18 million manat. - 15B -
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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