"Bank of Baku" gained AZN 20 million of net profit for 9 months
"Bank of Baku" released its financial figures for January-September 2024.
The bank gained AZN 20 million of net profit for 9 months, which is down by 17.6% from the same period of the last year.
As of the beginning of October, the "Bank of Baku" assets were up by 12.6% from the beginning of last October - AZN 919.5 million, including the net loan portfolio 19.1% higher - AZN 690.8 million.
At that, the bank’s liabilities amounted to AZN 769.8 million (13.4% more), including the deposit portfolio of AZN 571.3 million (26.5% more), the balance capital of AZN 149.7 million (8.6% more), the registered capital of AZN 52.9 million (unchanged).
Finance
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On November 19, Finance Minister Samir Sharifov stated in the Milli Majlis (National Assembly) that fines issued to citizens in Azerbaijan sometimes do not reach the state budget. According to him, a new software system has been developed to address this issue and ensure proper oversight of fine payments.
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‘Baku Stock Exchange' (BSE) has started its work since 19 November to take part in the annual meeting of the World Federation of Exchanges (WFE), which will end on 22 November.
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There is additional potential in Azerbaijan associated with budget receipts from leasing of state property.
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In 2025, AZN 1,162.6 million is forecasted to be allocated from the state budget to 56 public legal entities in Azerbaijan.
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