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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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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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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