The National Bank of Iran (Bank Melli Iran) is in no hurry to expand the capabilities of its Baku branch – by April 1, its assets grew by 10.1% to the beginning of the year, reaching 84 million 310 thousand manats. Against the background of the local credit institutions with billions in assets it is minuscule.
This is evidenced by the level of the total loan portfolio - 6 million 151.41 thousand manats (+ 8.1%) in the liabilities of 33 million 182.03 thousand manats (+ 27.8%). The equity capital meets the requirements of the CBA capitalization - 51 million 128.02 thousand manats (+ 1%) at constant in the authorized capital of 51 million 0.4 thousand manats.
In the first quarter, the bank worked with a net loss of 336.13 thousand manats.
The local branch of Bank Melli Iran was founded in Baku in 1993. --17D-
Economics
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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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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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