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Financial news
Bulletine Finance 

2017 October 19 ( Thursday )  17:59:43
Print version
Русский Azərbaycan


Bank Silk Way Reduces Debt to Central Bank by 5 Million Manat

Baku / 19.10.17 / Turan: The assets of Bank Silk Way for three quarters of 2017 as compared to the beginning of the year increased by 1 million 651 thousand manat or 0.4%, amounting to 405 million 643 thousand manat.

The bank"s liabilities for the reporting period decreased by 5 million 370 thousand manat or 1.9% and amounted to 282 million 161 thousand manat.

The volume of deposits in the bank increased by 936 thousand manat or 0.5%, reaching 170 million 980 thousand manat.

Call deposits of individuals increased from 35 million 636 thousand manat to 39 million 464 thousand manat, and those of legal entities increased from 7 million 501 thousand manat to 22 million 409 thousand manat. Timed deposits of individuals decreased from 120 million 381 thousand manat to 102 million 097 thousand manat, and those of legal entities grew from 6 million 525 thousand manat to 7 million 009 thousand manat.

During this period, the bank's debt to the Central Bank of Azerbaijan decreased from 22 million 500 thousand manat to 17 million 500 thousand manat.

The capital of Bank Silk Way reached 123 million 481 thousand manat (an increase of 7 million 020 thousand manat or 6%).

For the three quarters of 2017 the bank showed a net profit of 6 million 691 thousand manat. ---71D

Volume of Problem Loans Crossed Red Line - Gubad Ibadoglu

Baku / 19.10.17 / Turan: If urgent measures on problem loans are not taken, they will become even more, as a result of which the financial markets will suffer greatly, and the national economy will be in a very difficult situation. This was written by the economist Gubad Ibadoglu on his Facebook page.

He believes that the volume of troubled loans has passed the red line. "At present, the number of clients of 31 banks operating in the country is 5,720,291, of which 2,428,032 have loans in banks. The overdue loans of these customers exceed 1,824 million manat and constitute 15% of the loan investments," the expert wrote.

According to him, according to the latest data, the volume of overdue loans exceeds the target reserves envisaged to cover possible losses on loans, which is 1,635,700,000 manat.

"This means that the volume of overdue loans has crossed the red line. According to reports provided for internal use in March, debts non-repayable over 30 days rose to 44.2% and in June - to 51.7%. At the present time, the volume of suspicious debts is approaching 60%," he said. -----71D

Azerbaijan Received $500 million EBRD Loan for TANAP

Baku / 19.07.17 / Turan: On October 18, the European Bank for Reconstruction and Development (EBRD) allocated a $ 500 million loan to Azerbaijan to finance the Trans-Anatolian gas pipeline project (TANAP). This is stated in the EBRD press release.

The information indicates that the loan was allocated for the implementation of the TANAP project, which is the largest part of the South Gas Corridor (SGC). The funds will be provided to CJSC South Gas Corridor. It is planned to send part of the loan to finance part of the TANAP obligations.

It should be noted that in September the delegation led by the EBRD President Suma Chakraborty visited Azerbaijan. On September 7, the delegation was received by Azerbaijani President Ilham Aliyev. At this meeting, the question of financing the SGC project was discussed.

TANAP and TAP make up different parts of SGC providing for the transportation of Azerbaijani gas to Europe. The TANAP project involves the delivery of gas from the Shahdeniz-2 field to Turkey and Europe. The TAP project is a continuation of TANAP. Gas from the Shahdeniz-2 deposit via Greece and Albania across the Adriatic Sea will be transported to the south of Italy and from there to Western Europe. The project will be fully implemented in 2020. The work on TANAP has been completed by 70%, and on TAP - by more than 40%.

The South Gas Corridor project is supported by the World Bank, EBRD, EIB, AIIB and ADB. The obligations of Azerbaijan in connection with SGC are $ 11.9 billion for 2014-2019. Until the end of last year, $ 6 billion was fulfilled from these funds.

Currently, the cost of the SGC project is about $ 40 billion. -0-

USD Exchange Rate Unchanged, EUR Rises

Baku / 19.10.17 / Turan: At the currency auction of the Central Bank on Thursday, the USD rate remained unchanged at the level of 1.7001 manat.

Commercial banks buy American currency in the range of 1.6850-1.7000, and sell it at 1.7030-1.7080 manat per USD.

The euro exchange rate on October 19 rose slightly from 2.0000 manat to 2.0063 manat. In commercial banks, the euro can be bought at 2.0185-2.0327 manat per EUR. -71D-

Foreign currencies rates fixed by Central Bank

1 ABŞ dollarıUSD1.7001
1 AvroEUR2.0063
1 Avstraliya dollarıAUD1.3347
1 Argentina pesosuARS0.0981
1 Belarus rubluBYN0.8683
1 Braziliya rialıBRL0.5361
1 BƏƏ dirhəmiAED0.4629
1 Cənubi Afrika randıZAR0.1253
100 Cənubi Korea vonuKRW0.1501
1 Çexiya kronuCZK0.078
100 Çili pesosuCLP0.2719
1 Çin yuanıCNY0.2564
1 Danimarka kronuDKK0.2695
1 Gürcü larisiGEL0.6836
1 Honq Konq dollarıHKD0.218
1 Hindistan rupisiINR0.0261
1 İngilis funt sterlinqiGBP2.2469
100 İndoneziya rupiasıIDR0.0126
100 İran rialıIRR0.0045
1 İsveç kronuSEK0.2089
1 İsveçrə frankıCHF1.7339
1 İsrail şekeliILS0.4854
1 Kanada dollarıCAD1.3634
1 Küveyt dinarıKWD5.6276
1 Qazaxıstan tengəsiKZT0.0051
1 Qırğız somuKGS0.0248
100 Livan funtuLBP0.1127
1 Malayziya rinqqitiMYR0.4022
1 Meksika pesosuMXN0.09
1 Moldova leyiMDL0.0983
1 Misir funtuEGP0.0964
1 Norveç kronuNOK0.2137
100 Özbək somuUZS0.0211
1 Polşa zlotasıPLN0.4737
1 Rusiya rubluRUB0.0296
1 Sinqapur dollarıSGD1.251
1 Səudiyyə Ərəbistanı rialıSAR0.4534
1 SDR (BVF-nun xüsusi borcalma hüquqları)SDR2.396
1 Türk lirəsiTRY0.4627
1 Tayvan dollarıTWD0.0562
1 Tacik somonisiTJS0.1931
1 Yeni türkmən manatıTMT0.4858
1 Ukrayna qrivnasıUAH0.0643
100 Yapon yeniJPY1.5045
1 Yeni Zelandiya dollarıNZD1.2068