CJSC Aqrarkredit Puts up for Sale Three Property Items Related to International Bank of Azerbaijan
The Non-Banking Credit Organization CJSC Aqrarkredit has presented a list of three properties pledged with the International Bank of Azerbaijan under a loan. The loan was not repaid on time, so the competitive commission put them up for sale by public auction.
As the responsible person in Aqrarkredit on the objects put up for auction Shamshir Gurbanov said, the evaluation of these facilities has not been completed and the timing of their nomination at the auction is to be determined.
One of the objects (a plant for the production of cement and concrete and a quarry for production of sand and crushed stone) located in Georgia (Tbilisi). Also offered to investors will be a meat and dairy factory in the Sheki region and an enterprise for growing grapes and wine in the Novkhani settlement of the Absheron district.
The decision on the sale of the pledged object has been accepted by the government in July this year. CJSC Aqrarkredit has selected several appraisal firms (PricewaterhouseCoopers Azerbaijan, Deloitte Azerbaijan, Ernst & Young Azerbaijan, RSM Azerbaijan, BDO Azerbaijan, LLC Koneko Group, Nexia EA, Real Prays and VETO Consulting).
The organizers of the auction will be three companies.
At the disposal of CJSC Aqrarkredit there are many objects that were pledged for loans from IBA. IBA gave Aqrarkredit assets totaling over 5.6 billion manat for management. ----08D
Economics
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
-
S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
-
In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
Leave a review