Shares of Credo Bank for a total amount of 500,000 manats were posted last Thursday on the BSE.
Thee 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). Underwriting services were provided by Chelsea Capital LLC. They have posted 4.3% (1.3 million manat) of the announced issue.
The paid-up share capital of the bank, thus, reached 21.84 million manat. KredoBank shareholders are 11 individuals and two entities . - 15B -
Economics
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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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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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