Local Deka Bank has brought the level of authorized capital to 52.767 million manat (an increase of 2.2 times).
As stated in the press release of the bank, to increase immunity against financial risks they did not need an additional issue - it was enough to convert securities. Thus, the nominal value of each of the 47,970 shares rose from 500 to 1,100 manat.
Deka Bank was created in 1989. Its shareholders are 7 individuals. The largest shareholder is Rafael Agaev - 30.44% of the shares. --17D-
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- Politics
- 6 January 2015 14:20
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- Political Monitoring
- 6 January 2015 14:36
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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