By November 1, the number of legal persons - clients of the International Bank of Azerbaijan (IBA) reached 14,157 (+350 against the beginning of the year), while the number of individuals got close to a million - 920,411 (+ 6.8% or 58 679).
The largest bank in the country, IBA was founded in 1992. Its assets are managed by the government. Currently, 50.2% stake in the bank is owned by the state, and 49.8% stake is owned by private shareholders. --17D-
Economics
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Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
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Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
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Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
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The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
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