The assets of JSC Bank of Baku by April 1 amounted to 591.35 million manat (minus 26% compared to the same period last year, when they amounted to 797.84 million manat).
The amount of cash decreased in comparison to the previous year - from 37.78 million AZN to 25.06 million manat. The loan portfolio in the first quarter amounted to 386.63 million manat, whereas last year it was 621.47 million manat.
By April 1 last year there was 459.17 million AZN on deposit accounts, while this year by the same date there was 328.76 million manat.
The authorized capital is 52.87 million manat (unchanged), while the equity is 61.27 million AZN with an almost twofold reduction (from AZN 106.48 million).
JSC Bank of Baku has operated under the CBA license since 1994. The Head of the Supervisory Board is Elchin Isayev, and the Chairman of the Board is Abbas Ibrahimov.
At the end of 2014 there were changes in the composition of the founders - Hikmet Ismayilov (21.11%) purchased a package in Azinvest Ltd. and from Rafik Aliyev (brother of the former Economy Minister Farhad Aliyev), who retired "from the game." NAB Holding has 40%, Azpetrol Ltd. has 28.89%, and Elchin Isayev has 10% of the share capital. --17D-
Economics
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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Azerbaijan’s state-owned electricity producer, Azerenergy, is advancing the construction of six hydroelectric power plants (HPPs) in the Kalbajar and Lachin districts as part of the country’s efforts to expand its renewable energy capacity. The plants, with a combined capacity of 37.5 megawatts (MW), are expected to be commissioned in the first half of 2025, according to the company.
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