The assets of Bank of Baku OJSC by October 1 amounted to 704 million 837 thousand AZN (minus 5.8% at the beginning of the year).
According to the bank, most of the bank's equity capital declined (minus 24% - up to 111 million 756.18 thousand AZN) and loan portfolio (minus 21% - up to 492 million 782 thousand manats).
Slightly decreased (minus 1.3%), total liabilities - up to 593 million 81 thousand manats. Investors are withdrawn from the account of money, causing deposits decreased by 7.3% - to 389 million 418 thousand manats.
Bank of Baku OJSC with registered capital of 52.87 million manat works since 1994. The Chairman of the Supervisory Board is Elchin Isayev, and the Chairman is Abbas Ibrahimov. Its shareholders are 3 legal entities and 2 individuals. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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