Share of assets 5 largest banks in aggregate indicator of the banking system as of January 1, 2013 amounted to 59.3%, which is 2.74% more than it was at the end of 2011. The share of these banks had 56.7% (at the end of 2011 - 54.37%) of all credit investments in the economy, 90.4% (88.53%) of investments in securities, 64.5% (66.67% ) corporate deposits, 54.8% (50.74%) of retail deposits and 50.2% (44.92%) of the aggregate capital.
According to the Central Bank of Azerbaijan, the share of assets of the next 10 largest banks by assets in aggregate indicator was 29.3% (in early 2012, 24.49%), 16-30 banks - 7.5% (14.50%) , the remaining 13 banks - 3.9% (4.45%).
Azerbaijani banks' total assets increased during 2012 to 3696.64 million or 26.5% to 17643.45 million ($ 22.5 billion). - 15B -
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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