The shares of Credo Bank for a total amount of 500,000 manats were posted on Tuesday at the Baku Stock Exchange.
The issue of 3,000 ordinary shares of par value of 10 thousand manats passed state registration in October. According to the Exchange, all the shares were sold in a single transaction (one investor). The underwriting Services were provided by Chelsea Capital LLC. They have posted 1.7% of the announced issue.
The paid-up share capital of the bank, thus, reached 21.04 million manat. Credo Bank shareholders are 11 individuals and two entities. -15B-
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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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.
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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.
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