Bank Respublika offers to compare several loan offers and choose the best deal
Now, before you make a decision about which of the banks to get a loan from, you can compare all your suggestions on the Bank Respublika website and determine which loan product is the most profitable one.
The new service " Comparative loan calculator " gives an opportunity to compare up to 4 credit products on the basic parameters : the amount , interest rate, commission , etc. period . As a result, the user will receive information about the final costs for each of the selected loans, monthly payment, and the actual interest rate.
Before deciding, Bank Respublika recommends consumers to compare loan products with the actual interest rate on the market offers and to get acquainted with all the terms of the loan.
To familiarize yourself with the new service, you can link to: http://www.bankrespublika.az/az/individual-clients/fifdcompare/.- 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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