A new branch Ganjlik of OJSC Ata Bank opened in the Narimanov district. It is located at 3A Koroglu Rahimov Street and provides a wide range of services to individuals and legal entities, according to the press release from the bank.
The new branch offers customers all kinds of banking services, including cash and settlement transactions, loans on favorable terms, deposits, money transfers, receiving various kinds of plastic cards, currency exchange, and payment of utilities.
Functioning since 1993, Ata Bank OJSC has a network of 27 branches and sub-branches in Baku and regions of the country. The bank provides a full range of services to corporate and private clients. -0--
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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