JSC Bank Respublika in order to enhance customer service network, has opened a new branch Badamdar at the housing estate Yeni Yasamal , Outer Ring , 4 (in the Automobile Market).
The branch offers a full range of banking services, among which a special place is occupied by auto loans. Now, customers will be able to get the car market auto loans on favorable conditions , both new and on the second-hand cars .
In addition, the customers are given cash management services, deposits, various types of consumer and business loans , credit cards , money transfers, payment of utilities and other services , currency exchange and other banking services. -15D -
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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