The international rating agency Fitch approved the forecast of Turkish bank Ziraat Bankası A.S. at the negative level and the long-term credit rating at BBB-.
The rating agency notes that Ziraat is a major Turkish bank, with a 13% -14% market share and is the only one in subsidizing agricultural loans.
Fitch notes Ziraat Bank periodically receives financial assistance from the state and has a low level of problem loans - 1.6%.
Note that Ziraat Bankası A.S. is a shareholder of Ziraat Bank Azerbaijan ASC. -----71D
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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