Shares of Credo Bank for a total of 300 thousand manats were posted on Wednesday, at the Baku Stock Exchange.
Emission of three thousand ordinary shares of par value of documentary 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. Today posted 2.7% of the announced issue.
The paid-up share capital of the bank, thus, reached 21.34 million manat. CredoBank shareholders are 11 individuals and two entities. -15B-
Economics
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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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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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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.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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