2017 October 16 ( Monday ) 17:16:15
- Activity of Creating Companies with 100% Foreign Capital Grows by 40%
- Rate of Decline in GDP Production Weakened – State Statistics Committee
- Net Profit of Gunay Bank Exceeds AZN 2 Million
- Banks Moved to Strengthened Operation Mode
- Demand at Deposit Auction Exceeded Supply More Than Three Times
- Foreign currencies rates fixed by Central Bank
Baku / 16.10.17 / Turan: For the first nine months of this year, 531 companies with 100% foreign capital were registered in Azerbaijan, which is 39.7% more than for the comparable period of 2016, the State Statistics Committee informs.
The growth of the tourist flow from the Middle East countries also helps develop other economic elements; companies engaged in the foreign tourist servicing are created in Baku and regions. Among them, there are many companies from these countries.
In January-September, 113 joint companies were also established, 31.4% more than in the same period last year.
This year, 44 companies with 100% foreign capital and 7 joint ventures announced liquidation. Last year, these figures were 60 and 5, respectively. In general, since the beginning of the year, 489 local and foreign companies have ceased to exist.
In all three quarters, 8,782 new companies were registered in Azerbaijan, including 95 state-owned companies. As of October 1, 2017, there were 115,600 economic entities in the country, of which approximately 100,000 were commercial entities. According to unconfirmed data, about 30-40% of them were active. ---08B
Baku / 16.10.17 / Turan: For nine months of this year, the volume of production of the Gross Domestic Product in Azerbaijan exceeded 50 billion manat. This in comparable prices is 0.6% less than for the same period in 2016. At the same time, in actual prices, GDP increased 17.2% for the year, the State Statistics Committee (SSC) reported.
According to official data, in September the decline of the main macroeconomic index weakened: for eight months the SSC calculated the GDP decline by 1%.
The share of the non-oil sector in GDP for the first quarter of the year was 62.5% (31.2 billion manat). At the same time, the production of added value in this sector grew by 2.5%. This became possible due to an increase in activity in construction (+ 1.5%), transport (+ 5.8%), agriculture (+ 2.8%) and trade (+ 2.1%).
GDP per capita (5,149 manat) increased by more than 600 manat in current prices. In comparable prices, this indicator decreased by 1.6%. Over the first nine months of last year, GDP per capita in Azerbaijan fell by 5%. Taking into account inflation and monetary incomes, this more or less reflects the dynamics of the welfare of the country's population. ----08D
Baku / 16.10.17 / Turan: Gunay Bank"s assets in the third quarter of 2017 increased by 51% or 59 million 816 thousand manat in comparison with the beginning of the year, amounting to 177 million 066 thousand manat.
Over the reporting period, the bank"s liabilities grew by 87.4% or 55 million 416 thousand manat, reaching 118 million 790 thousand manat.
The volume of deposits in the bank is 58 million 859 thousand manat. In particular, the call deposits of individuals amount to 4,193,000 manat, the call deposits of legal entities amount to 33,470,000 manat, the timed deposits of individuals are 20 million 810 thousand manat, and the timed deposits of legal entities are 384 thousand manat.
The debt of Gunay Bank to the Central Bank is 14 million 100 thousand manat.
The bank"s capital for the mentioned period increased by 8.2% or 4 million 399 thousand manat, making 58 million 275 thousand manat.
For the three quarters the bank showed a net profit of 2 million 079 thousand manat. -71D-
Baku / 16.10.17 / Turan: In connection with the shopping festival, which started on October 15, the banks switched to an enhanced operation mode, the Financial Markets Supervision Authority (FIMSA) reports.
In connection with the festival, 58 branches and sub-branches of 24 banks will operate in an enhanced mode.
For the period of the festival, for uninterrupted currency exchange services, seven branches and sub-branches of banks will operate around the clock, including Saturdays and Sundays.
At the shopping festival, which will last until November 15, it is planned to attend more than 400 retail venues.
The first shopping festival in Baku was held in May 2017. Despite the organizers' expectation to receive 50 million manat of income, according to the results, the income was 5.6 million manat. -71D-
Baku / 16.10.17 / Turan: At the deposit auction of the Central Bank of Azerbaijan on Monday, demand exceeded supply more than three times.
The Central Bank raised 200 million manat, with the demand of 636.1 million manat. The funds were raised for a period of 14 days, at an average weighted rate of 10.01%.
Deposit auctions are held as part of anti-inflation measures. The Central Bank has started holding deposit auctions since June 2016. -----71D
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