JSC Caspian Development Bank plans to open a specialized mortgage subsidiary in Baku.
According to the report by the main shareholder (Synergy Group), the management also plans to establish a branch network, starting with the cities of Quba and Barda.
JSC Caspian Development Bank (previously Kovsar Bank) was established in 1988, and in December of last year the bank's shareholders changed. In particular, the major shareholder of the bank is the Azerbaijani Synergy Group founded in 2010. It is one of the largest private investment holdings in Azerbaijan. The bank's authorized capital is 50.02 million manats. --17D-
Economics
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Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
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Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
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Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
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The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
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