Assets of the Commercial Bank Parabank grew in January-June to 113.495 million manat (3.5% compared with January 1, 2013). The credit portfolio for the second half of the year is 79,615,000 manats (+4.7%).
The bank's liabilities including long-term ones are 92,918,463.5 AZN (+3.1%).
Shareholders' equity reached 20,577,280 manats (+5.6%). The authorized capital is at the same level - 11,570,400 manats, but as reported in the Bank, July 10 SSC registered the issue prospectus of ordinary size of 16 million manat, and the other day on the BSE will start offering this amount.
Parabank was founded in 1991. It currently operates 16 branches.
Its shareholders are E. Guliyev and A. Guliyeva - 17.39% stake each, T. Hajiyeva - 17.30%, V. Guliyev - 15.40%, and E. Guliyev (Jr.) - 13.01%. The number of minority shareholders is 14 with a total share of 19.51%. - 17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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