In April this year the Azerbaijani banks actively expanded network of regional and central offices.
According to the Central Bank of Azerbaijan in the reporting month, eight banks opened 7 branches and 8 sub-branches.
Among the regional branches there are those of Unibank, Bank of Baku and Demirbank in Salyan, Ganja and Khirdalan.
Muganbank was granted permission to open two regional offices in Barda and Saatly. For regional branches in Masalli and Khyrdalan a license was acquired by JSC Rabitabank.
Bank Technique received permission to open six metropolitan offices. One branch each in Baku was also opened by PashaBank and BTB Bank.
The total number of bank branches and offices thus has reached 872 units, of which 446 units opened in Baku. -15B -
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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