The JSC "AGBank" announced about signing the Protocol of intent on consolidation with JSC "Bank Standard". This is the second attempt of "AGBank" to stay in the country's financial market.
Under the agreement, a working group with the participation of representatives of the two banks will develop the principles and conditions of the merger of "AGBank" from "Bank Standard" CJSC.
Previously "AGBank" signed such a preliminary agreement with the OJSC "Demirbank" in January this year. However, the "engagement" did not take place, as the parties were unable to agree on the main issues.
The CJSC "Bank Standard" was created in 1995 and is owned by JSC "AB Standard", which is 100% owned by a former member of the government of Azerbaijan Heydar Babayev. The bank's assets for January 1, 2014 totaled 994 million manat.
The OJSC "AGBank" has been functioning since 1993. The shareholders of the Bank are the International Finance Corporation - 17.5%, the company «Kazimir Partners», and more than 60 individuals. For January 1, 2015 the bank's assets reached 490 million manats.-- 08B-
Economics
-
In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
-
On the night of January 13-14, several flights bound for Baku from Istanbul, Moscow, and Tel Aviv were diverted to Ganja International Airport due to thick fog at Baku's Heydar Aliyev International Airport.
-
Azerbaijan's Cabinet of Ministers approved a new sanitary-protection zone spanning 289.5 hectares for the Dashalti State Nature Reserve on Sunday, in a move aimed at strengthening environmental protection measures. The decision, signed by Prime Minister Ali Asadov, aligns with national legislation on protected areas and implements provisions of a 2014 presidential decree amending the law on "Specially Protected Natural Areas and Objects."
-
During a working visit to the United Arab Emirates, Azerbaijani President Ilham Aliyev met with UAE President Sheikh Mohammed bin Zayed Al Nahyan on January 13, 2025, in Abu Dhabi. The meeting underscored the strengthening of bilateral relations between the two countries, with a special emphasis on energy cooperation, climate change efforts, and mutual investments.
Rəy yaz