By the decision of the extraordinary general shareholders' meeting of AG Bank on March 4, the prospect of charter capital growth by 5 times to 125 million manat was approved.
According to the information, in the near future the State Committee for Securities will receive applications for the registration of share issue in the amount of 100 million AZN.
JSC AG Bank with a capital of 25 million AZN has been active since 1992. The major shareholders are Chinghiz Asadullayev (23.27%), Farzulla Yusifov (17.767%), the International Finance Corporation (17.5%), and Kazimir Partners (10%). In addition, the bank has 60 minority shareholders with a total share in the bank's capital at the level of 31.47%. --17D-
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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