IBA-Moscow invested $1.5 billion in the Russian economy
Most of the finance raised by Azerbaijani banks in Russia, accounts for Russian banks in Baku.
According to the CEO of the CBA Rashad Orujov in Gabala at the round table "Development of cooperation between Azerbaijan and Russia in the field of banking," $300 million from $ 550 million was raised by Vneshtorgbank and Bank Nikoil. In Azerbaijan since 2010, a representative of Rosselkhozbank has been acting, but it has not yet attracted funds.
Correspondent relations with Russian banks have been established by 35 of the 43 banks operating in Azerbaijan, Orujov said at an event within the V Azerbaijan-Russian interregional forum. According to him, much more Azerbaijani finance has been invested in the Russian banks – the funding at IBA-Moscow (a subsidiary of International Bank of Azerbaijan) alone is $ 1.5 billion.
CBA CEO reported that in 2013 remittances from Azerbaijan to Russia totaled $ 300 million, and from Russia to Azerbaijan - $ 1 billion.
In Russia, there are two Azerbaijani banks - IBA-Moscow and the representation of Muganbank.
Foreign capital is present in 22 domestic banks, whose share is 67%. In 14 banks the share of foreign capital exceeds 50%. - 17D-
Economics
-
The State Oil Company of Azerbaijan (SOCAR) and Subsea7, a global leader in offshore engineering and construction, are exploring further collaboration on new projects in the Azerbaijani sector of the Caspian Sea. During a meeting between SOCAR President Rovshan Najaf and Subsea7 CEO John Evans, the two sides discussed the potential for Subsea7’s technological innovations to play a role in upcoming ventures. They also considered other areas of mutual interest for both companies.
-
According to the State Customs Committee and the State Statistics Committee, Azerbaijan saw a significant increase in meat imports during the first nine months of 2024, amid more modest growth in domestic production.
-
The event "Sustainable Transport of the Future" is being held in Baku on Wednesday, organized with the support of Azerbaijan Railways CJSC, aimed at promoting the concepts of sustainable transport that minimizes environmental impact. The event highlights environmentally friendly transportation options, such as walking, cycling, green public transport systems, and eco-friendly vehicles, all contributing to the reduction of greenhouse gas emissions.
-
On October 23, 2024, the 3rd Conference of Energy Ministers within the framework of the "One Belt, One Road" (OBOR) initiative opened in Qingdao, China. Energy ministers from around the world gathered to discuss critical issues related to global energy security, the transition to clean energy, and innovations in the sector.
Leave a review