The total authorized capital of local banks by January 1 of this year amounted to 2 billion 609.6 million (32.3% of the positions in the previous year).
According to the last year’s report on the activities of the Central Bank of the Republic of Azerbaijan, the size of the bank's equity to the top of the year amounted to 3 billion 426.5 million (+32.7%). In other words, the share of the authorized capital in the equity of banks at the beginning of the year was 76.1% (to 1 January 2013 it was 81.6%).
General reserves of banks on the basis of 2013 amounted to 234.3 million (22.7%). The banks’ ability to meet the demands of their depositors and other creditors in terms of having sufficient funds (capital adequacy ratio) was 18.1% at a rate of 12%.
In the reported period, 43 banks operated in Azerbaijan. - 17D-
Economics
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Azerbaijan produced 28,394.1 million kilowatt-hours (kWh) of electricity in 2024, according to operational data released by the Ministry of Energy.
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The 10th meeting of customs heads from the Organization of Turkic States (OTS) commenced in Baku on Tuesday, bringing together senior officials from Azerbaijan, Turkey, Kazakhstan, Uzbekistan, and Kyrgyzstan. Representatives from the United Nations, the International Road Transport Union (IRU), and the customs authorities of Georgia and Hungary also participated.
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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