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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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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