The Iranian bank in Baku made a profit of about 3 million manats in the quarter
The Baku branch of the National Bank of Iran has released financial indicators for the first quarter of 2024. In January-March, the credit institution made a profit of 2.5 million manats, by 4 times more than in the same period last year.
The assets of the Bank of Iran at the beginning of April this year amounted by 12.2% more than at the beginning of April last year - 114.8 million manats, including a net loan portfolio 62.1% less – 3.2 million manats. The liabilities of the Baku branch amounted to 71.2 million manats (10.4% more), the deposit portfolio - 35.6 million manats (2.85 times more), the balance sheet capital -43.6 million manats (15.1% more), the authorized capital -73.6 million manats (unchanged).
Finance
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'Pashabank's subsidiary in Turkey (‘Pasha Yatırım Bankası’) has released its financial results for January-September 2024.
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In January-October 2024, the State Oil Fund (SOFAZ) sold foreign currency worth $5,919.4 million. This was reported by the Fund.
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According to the updated October forecasts of the Central Bank of Azerbaijan (CBA), annual inflation in the country will be 5.1% by the end of 2024 and 5.8% by the end of 2025. The CBA reported.
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According to updated forecasts, the current account surplus in Azerbaijan will be $5.3 billion by the end of this year and $5.5 billion by the end of the next year. This was reported by the Central Bank of Azerbaijan.
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