
Deposit Insurance Fund appealed to the depositors "of Texnikabank" and "Gencebank"
Deposit Insurance Fund appealed to the depositors of the closed "of Texnikabank" and "Gencebank". According to Turan, the Fund asked the owners of insured deposits of «Texnikabank» which have not apply for compensation, to make an appeal to the fund up till 12 February, 2017.
In a message to the owners of insured deposits in "Gencebank" the Fund noted that they should refer to till February 4, 2017. This Fund noted that in any case the right to receive compensation from investors remains for five years, after the announcement of the issuance of compensation.
On January 19 the investors "of Texnikabank" were issued 120.364. manats (98.1% of total deposits in the bank), and depositors “Gencebank” were issued 976.000 AZN compensation (94%). 71D
Economics
-
The EBITDA (earnings before interest, taxes, depreciation, and amortization) of the State Oil Company of Azerbaijan (SOCAR) has been declining in recent years, as reflected in reports by international rating agencies and the company’s own financial statements. SOCAR’s financial report for 2024 is expected in the summer of 2025, but preliminary data from Fitch Ratings indicates a further decline in the figure.
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
Leave a review