Central Bank of Azerbaijan allocates loan to subsidiary of Russian bank

Baku, Azerbaijan, Nov. 10

By Anvar Mammadov - Trend:

The loan issued by the Central Bank of Azerbaijan (CBA) to the VTB Bank (Azerbaijan) will be allocated to restructuring the currency portfolio of the Azerbaijani subsidiary of the Russian bank, the board member of VTB Bank (Azerbaijan), director of retail business development department Tural Veliyev told Trend Nov. 10.

"These funds will be used for the issuance of loans in national currency to individuals," said Veliyev. "For our bank, these funds are foreign exchange operation rather than loans."

The CBA has allocated to the bank a loan of 10 million manats on favorable terms.

In the third quarter of 2015, the assets of VTB Bank (Azerbaijan) amounted to 378 million manats, which is 30 percent higher than at the beginning of 2015.

The bank's loan portfolio as of October 1, 2015 amounted to more than 347 million manats, which is 24 percent more compared to the beginning of 2015. The deposit portfolio of the bank as of October 1, 2015 increased by more than two times compared to the beginning of 2015 and amounted to 60.7 million manats.

The bank's profit for the third quarter of 2015 amounted to 8.1 million manats, the Tier I capital increased to 40 million manats, the total capital exceeded 53 million manats. Capital adequacy of the Tier I and the total capital of the bank amounts to 11.01 percent and 15.23 percent, respectively.

VTB Bank (Azerbaijan) JSC is a subsidiary of VTB Bank JSC. Shareholders of VTB Bank (Azerbaijan) JSC are: VTB Bank JSC and AtaHolding JSC. VTB Bank (Azerbaijan) JSC provides services to clients of corporate business, small business and private clients. Today, the bank is represented by 14 branches and the Office of Customer Service at the head office.

Azerbaijan to increase production of pomegranate in 2021
Azerbaijan to increase production of pomegranate in 2021
Review of Georgia's exports to China
Review of Georgia's exports to China
EU provides more details on projects supporting in Georgian energy sector
EU provides more details on projects supporting in Georgian energy sector
Loading Bars
Latest
MSF urges rich countries to back COVID vaccine patent waiver
U.S. commanders seek approval for aircraft carrier near Afghanistan during withdrawal
Britain's Heathrow Airport turns down airline requests for extra flights from India
Qatar reports 819 new COVID-19 cases, 199,180 in total
Uzbekistan reveals number of investment projects implemented with S.Korea, Japan
Azerbaijani gymnast reaches final of European Championship in Basel
Turkey records highest daily COVID-19 deaths toll yet, total nears 37,000
Executive power of Azerbaijan’s Astara district opens tender for overhaul of roads
Georgia introduces new regulation on activation of roaming services
Azerbaijan to increase production of pomegranate in 2021
Iran halts flights to 39 countries due to rising COVID: CAO
NASA, SpaceX delay Crew-2 mission launch to space station
Over 200 mln COVID-19 shots administered in U.S.
Olympic motto may be altered, IOC President says
Turkey extends short-term work pay scheme until June
Uzbekistan Airways plans to discontinue flights to nine countries
Review of Georgia's exports to China
Azerbaijani banks greatly expand mortgage lending volume - CBA
EU provides more details on projects supporting in Georgian energy sector
Iran's Energy Exchange announces products to be on sale on April 24
Extension of contract for dev't of gold-bearing deposit approved in Azerbaijan
Geostat reveals data on China's exports to Georgia
UK records another 2,396 coronavirus cases, 22 deaths
Robert F. Kennedy Human Rights, Nizami Ganjavi Int'l Center to discuss need for human rights advocacy
Armenia demonstrates fascism in relation to historical monuments - Azerbaijani State Committee
Karabakh ceasefire agreement signed, time to move forward - Commissioner for Human Rights
Some Russian airlines receive permission to make regular flights to Azerbaijan
View of Azerbaijan's liberated territories horrifying - Belarus ambassador
Execution of memorandum on improving insurance literacy starts in Azerbaijan
Uzbekneftegaz completes drilling operations on several wells
Number of transactions at Uzbek Commodity Exchange for 1Q2021 increases
EIB to assist Uzbekistan in developing credit line for project in Aral Sea region
Longest tunnel in Iran to be opened by end of spring
WB expresses readiness to provide digital transformation support to Azerbaijan
Iran creating water trading market
Volume of credit investments in Azerbaijan's economy declines
Iran’s Bahar Azadi gold coin price rebounds
WB predicts fall in gold prices in 2021
Kazakhstan to establish new mobile operator
Exports markets demonstrate growing demand for Georgian medications
Kazakhstan talks ongoing work to open CLAAS agricultural vehicles' assembly plant
Turkmenistan's Turkmenbashi refinery to launch production of Jet A-1 aviation fuel
Uzbekistan, Latvia consider prospects for co-op in ICT
Azerbaijan shows footage from Bash Garvand village of Aghdam district (VIDEO)
Postal operators of Azerbaijan, Turkey launch money transfer service at favorable tariffs
India’s crosses a Landmark with Cumulative Vaccination Coverage more than 13 Crores
SOCAR Ukraine bidding for Odessa Port Plant’s tender
London Bridge station reopens after suspicious item investigated
Uzbek-Korean JSC announces tender for transport services
PM Modi to address virtual Leaders' Summit on Climate tomorrow
Turkmenistan's Turkmengeology opens tender for purchase of equipment
Delayed tourism recovery affects Georgian economic growth forecast
India gets elected to three UN ECOSOC bodies
Turkmenistan's Turkmengas opens tender for purchase of chemical products
UK extends G7 Foreign Ministers' meeting invite to India
Kazakhstan’s national postal service operator to buy spares via tender
Georgia prepares for UN Food Systems Summit 2021
Azerbaijan shares data on number of vaccinated citizens for Apr. 21
Azerbaijan confirms 2,075 more COVID-19 cases, 2,480 recoveries
Iran Khodro declares amount of money to be saved
IRICA discloses details of Iran’s trade turnover with neighboring countries
Turkey reveals volume of goods received at Bandirma port in 2M2021
Georgian commercial banks see increase in profits
Industrial parks will also operate in Karabakh zone - President Aliyev
COVID-19 stalls launch of direct flights between Kazakhstan, US - ambassador
European countries to resume J&J COVID vaccine deliveries
Azerbaijan discloses volume of vehicles assembled at Ganja Automobile Plant
Dutch Stone City Energy to build TPP in Uzbekistan’s Surkhandarya region
WB names amount of allocations to countries against COVID-19
Carbamide production in Azerbaijan to grow, WB forecasts
Baku Stock Exchange holds auction on placement of CBA short-term notes
Turkmenistan's gas compressor plant contributes gas supply to oil wells
Eurasian Development Bank to support hospitals construction in Kazakhstan
Number of Kazakh companies increases in Turkey
Turkey unveils volume of cargo shipment through Kocaeli port
Onion exports from Georgia up, while imports decrease
Azerbaijan's Ganja Automobile Plant looks to enter markets of EAEU, neighboring countries
TCO talks release of excess amount pollutants at Kazakhstan’s Tengiz field
Azerbaijan eyes to introduce biometric e-signature system
Verizon loses more-than-expected wireless subscribers
Pace of Turkmen industry dev’t accelerating
Volume of Azerbaijan's 1Q2021 oil export to Spain disclosed
Austria increases import of Turkish-made chemicals
Silk Way West Airlines named ‘Cargo Airline of the Year 2020’
Turkey's 1Q2021 furniture export to Austria shows increase
Turkey's furniture export to Iran up
WB says global coal prices to jump in 2021
Cost of electricity imports to Georgia increase
Iran's Jam Petrochemical Complex sees increase in sales
Ukrainian Bees Airline plans to carry out Kyiv - Tbilisi - Kyiv flights
Azerbaijani state budget receipts through State Customs Committee exceed forecasts
Israel and UK consider green travel corridor
Chanel loses European court fight in trademark dispute with Huawei
Azerbaijan records decrease in lending to communications, transport sector
US committed to help diversify economic opportunities for people of Kazakhstan
101-year-old Malaysian INA veteran honoured
Roaming tariffs to be decreased within Eastern Partnership over next 5 years – deputy minister
Kazakhstan increases exports to UK
Iran receives part of its frozen funds from S.Korea to purchase COVID-19 vaccine
Kazakh-German oil extracting JV opens tender to buy batteries
All news