Azerbaijani Banking Sector Assets Grow 9% Year-on-Year

The Asian Development Bank (ADB) is poised to deepen its involvement in Azerbaijan's transport sector, with a sharp focus on decarbonization and infrastructural modernization, according to Evgeny Zhukov, the ADB's Director General for Central and West Asia. In a recent interaction with local media, Zhukov highlighted several initiatives, including the electrification of the North-South railway, designed to reduce greenhouse gas emissions and enhance transport efficiency.

Azerbaijan Airlines (AZAL), the national flag carrier of Azerbaijan, has significantly expanded its summer flight program, now covering 60 destinations worldwide. This development marks a notable increase from the previous years, reflecting the airline's strategic growth initiatives.

In a significant uptick, the Baku metro reported transporting 20.51 million passengers in April this year, marking a 7.6% increase from the same period last year. During the 20 working days of the month, over 15.69 million passengers utilized the service, averaging 784,573 daily riders, with the busiest day seeing 810,689 commuters.

In a recent development, the Central Bank of Azerbaijan (CBA) convened a pivotal meeting with leaders from local banks to discuss the emerging trends in the financial sector. This meeting, crucially timed to assess the first quarter of the year, was disclosed by Taleh Kazimov, Chairman of the CBA, on the social platform "X". The discussions, which included a review of the first quarter's performance, also covered macroeconomic factors and interbank market trends. This is the end of Kazimov's information.