In the first half of 2016 Bank Silk Way sold two of its real estate objects, one of which was located at 57 Rashid Behbudov Avenue. According to the report, the bank's income from property sales amounted to 1 million 332 thousand manat.
The bank had 139 employees in the second quarter, 4 employees more than in the first quarter. The bank's shareholders are three individuals. The authorized capital is 101 million 545 thousand manat. In the third quarter of 2016 the bank had a profit of 5 million 669 thousand manat. -----71D
Economics
-
The EBITDA (earnings before interest, taxes, depreciation, and amortization) of the State Oil Company of Azerbaijan (SOCAR) has been declining in recent years, as reflected in reports by international rating agencies and the company’s own financial statements. SOCAR’s financial report for 2024 is expected in the summer of 2025, but preliminary data from Fitch Ratings indicates a further decline in the figure.
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
Leave a review