Access Bank increased its authorized capital up to 119.85 million manat through the purchase of 8.2 million new shares by the bank’s shareholders for the amount of 34.85 million manat, the bank said.
Repurchase of the shares was carried out by the acting shareholders on a pro rata basis. Thus, the shares of each of them in the authorized capital of the bank remained unchanged. The process of issue of shares and registration was successfully completed on March 29.
Shareholders of Access Bank are the Black Sea Trade and Development Bank (20%), the European Bank for Reconstruction and Development (20%), the International Finance Corporation (20%), KfW - Kreditanstalt für Wiederaufbau (20%), Access Microfinance Holding AG (16.53%), and LFS Financial Systems GmbH (3.47%). --71D
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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