JSC Azer-Turk Bank has opened a branch in Masalli in the south of Azerbaijan. The branch named Masalli is located in the complex ASAN Hayat. According to the bank, its opening was attended by Azerbaijani President Ilham Aliyev.
From the beginning of the year, it has been the fourth full banking center opened. Previously the users received Branch №2 in Baku, as well as the branch Shirvan in the Shirvan city and the department Gabala in Gabala.
JSC Azer-Turk Bank was established in May 1995. By the end of August its assets reached 900 million manats. The state represented by the State Committee for Property Affairs owns 75% of its shares. Turkish Ziraat Bank owns 12.37%, and Ziraat Bank International owns 1.08%. The securities are also owned by two insurance companies: Reinsurance Company AzRe - 6.55% and Qala Hayat Sigorta - 5%.--17D-
Economics
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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