Azerbaijan Credit Bank Remains in Financial Market
JSC Azerbaijan Credit Bank increased its authorized capital by 4.4 times to 50 million 181.38 thousand manat, which complies with the regulatory requirements of the CBA for capitalization.
According to the report, the placement of additional shares amounting to 38 million 752 thousand manat was completed yesterday. The emission is divided into 173 thousand shares with par value of 224 manat per security.
JSC Azerbaijan Credit Bank received a license to operate in December 2005. Shareholders of the bank are a group of individuals. --17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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