General Meeting of Shareholders of the Bank Respublika
The JSC «Bank Respublika» prepares for the annual general meeting of shareholders. According to the report of the financial structure, the event is scheduled for April 15th. The agenda included the following issues: approval of the financial statements and the results of the external audit of the bank for 2014, the creation of reserves from the net profit of the bank obtained on the results of operations for 2014, as well as the payment of dividends.
JSC «Bank Respublika» was created on February 17, 1992. Among its shareholders are the largest financial institutions of Germany: Investment Corporation DEG, a member of the banking group KfW, and SIDT, a member of financial group Sparkassen-Finanzgruppe, owning a stake of "25% + 1 share." --17D-
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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