The JSC «AtaBank» excluded from the list of Rating Watch Negative Fitch Ratings international rating agency. In addition, Fitch experts confirmed short-term rating of the local financial and credit structure on the level «B», as well as the long-term rating at the level «B-». According to the bank, while estimation the agency referred to the positive corporate governance practices of transparency and stability. JSC «AtaBank» was created in 1994, its network includes 26 branches and offices in the capital and regions of the country. At the end of last year, its own capital decreased by 14.4%, and amounted to 53.7 million AZN with unchanged by the end of the year the authorized capital of 50 million AZN. The Bank worked with a net profit of 1.4 million AZN. Its only shareholder is Ata Holding group of companies. --17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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