2017 August 21 ( Monday ) 16:52:13
- Moody’s Downgrades Azerbaijan’s Rating
- Assets of Bank Silk Way Increase by 2% in H1 of 2017
- At Deposit Auction, Supply Exceeded Demand by More than Six Times
- Capital Bank Opens Updated Branch of Beylagan
- Foreign currencies rates fixed by Central Bank
Baku / 21.08.17 / Turan: The international rating agency Moody"s has lowered the issuer"s long-term rating and the senior unsecured rating of Azerbaijan from Ba1 to Ba2, the agency said. The agency said the forecast is Stable.
The agency explained that the decline in ratings reflects a significant and prolonged weakening of the economic situation in Azerbaijan, which is affected by low oil prices, a reduction in oil production and a very weak banking system.
The Moody"s analysts forecast that in 2017 real GDP will decrease by about 1.5%. The report indicates that in 2016, the decline in GDP was almost 4%. -----71D
Baku / 21.08.17 / Turan: In the first half of 2017, the assets of Bank Silk Way increased by 8.031 million manats or 2%, amounting to 400.563 million manats, the Bank's report says.
For the specified time, the Bank's liabilities amounted to AZN 292.614 million (an increase of AZN 5.072 million or 1.8%). In particular, customer deposits reached 173.481 million manats (an increase of 3.340 million manats or 2%).
During the reporting period, the Bank's capital grew by AZN 2.959 million or 2.8% to AZN 107.949 million.
In the first half of the year the Bank showed a profit of AZN 2.959 million.
The number of employees of Bank Silk Way has increased from 141 to 149 people since the beginning of the year. ------71D
Baku / 21.08.17 / Turan: On Monday, at the deposit auction of the Central Bank of Azerbaijan, the supply exceeded demand by 6.5 times. At the auction for the demand of the Central Bank of 100 million manats, the supply amounted to 649.8 million manats.
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 been conducting auctions since June 2016. ---------71D
Baku / 21.08.17 / Turan: Capital Bank OJSC has opened an updated branch in the Beylagan district within the framework of optimization of the branch network.
Within the framework of the branch network transformation project, in 2017 the bank has opened new branches of Bravo and Narimanov Card Center, and the sub-branches of Buzovna, Demiryol, Lokbatan and Masalli. The offices of the Hazi Aslanov, Goychay and Gubadly branches have also been renovated. The goal of branch optimization is to provide customers with better and more comfortable services.
In the current year it is planned to finish repair works in several city and regional branches in accordance with the new concept, as well as the opening of new branches.
Capital Bank renders services to the population in 92 branches and 7 sub-branches throughout the country, having the widest network of services. The bank is a subsidiary of LLC Pasha Holding, which owns 99.87% of its shares. -----08D
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