NBCO "M Bulak" earned more than AZN 4 million in net profit last year
The non-banking credit organisation (NBCO) "N Bulak" has published its financial indices for 2023.
Last year, the credit organisation earned a net profit of AZN 4.2 million, which is up by 43.6% from the previous year.
As of the beginning of the current year, "M Bulak"s assets totalled AZN25.2 million, which is up by 29.5% from the beginning of the last year, including the loan portfolio by 30.6% more - AZN24.4 million. At that, NBCO's liabilities totalled AZN1.75 million (10.3 times more), the balance sheet capital - AZN23.45 million (21.6% more), including the authorised capital - AZN10.4 million (unchanged).
Finance
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The Central Bank of Azerbaijan (CBA) predicts that the average price for 1 barrel of oil on the world market will be $ 85.7 in 2024 and $ 83.5 in 2025.
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The Central Bank of Azerbaijan (CBA) forecasts that in 2024 the surplus of the current operating balance of the country will be $7billion.
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The Central Bank of Azerbaijan (CBA) predicts that by the end of 2024, the economic growth in the country will amount to 3.5-4%, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.5%.
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The Central Bank of Azerbaijan has reduced the discount rate by 0.25 percentage point from 7.5% to 7.25%.
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