CAPITALIZATION OF AZERBAIJAN"S BANKS INCREASES DUE TO NEW INVESTMENTS BY STOCKHOLDERS; FOREIGN INVESTORS ARE MORE ACTIVE
Authorized capital in Azerbaijan"s banks increased in the first half of the year by 146,8 million AZN, or 12,6%, and made 1291,4 million AZN. Annual increase on these indices totaled 262 million AZN, or 25%, according to Central Bank of Azerbaijan (CBA.)
Annual income of banks prior to taxation totaled only 80, 77 million AZN, by 1, 9 times less than over January-June 2009. Total income of bank system made up 70, 52 million AZN. As a result, the share of first level capital reached 83, 5% of the joint capital.
` Adequacy of bank system"s capital for July 1 remained on the acceptable level of 17,2% with minimum norm 12%, and the adequacy of first level capital exceeded the norm by more than two times, and made up 14,4%,` according to the CBA"s financial stability report over first six months of the year.
The share of foreign capital in the joint capital of bank system increased over six months by 0, 3 percentage points up to 18, 2%. Non-residents invested into capital of Azerbaijani banks 34, 4 million AZN, in addition to previously invested 204, 4 million AZN. --10D--
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review