Bank Nikoil has decided to combine two regional branches. In order to optimize the branch network it decided to combine the Masalli and Lankaran branches and place it in the city of Lankaran.
Recall that on 9 September the Financial Markets Supervision House decided to close four branches of the bank.
Earlier, commenting on the decision for Turan, the Director of the Marketing Department of Bank Nikoil, Rashad Jumshudov said "the management of the bank was planning to optimize costs, which meant the closure and consolidation of certain subsidiaries." ------71D
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.
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Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).
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Countries in Europe and Central Asia must not only attract investment but also actively adapt and disseminate technology to ensure sustainable economic growth, according to Ivailo Izvorski, Chief Economist for the region at the World Bank. Speaking at the presentation of the World Development Report 2024, Izvorski highlighted structural issues that are slowing down private sector development.
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Azerbaijan is now among 54 middle-income countries, said Shahmar Movsumov, Head of the Department for Economic Affairs and Innovative Development Policy at the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku.
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