In the second quarter of 2016 compared to the first quarter the number of Bank of Baku employees decreased by 17 people.
Turan reported with reference to the issuer's report published in the electronic data disclosure system (disclosure.az), if at the end of the first quarter, 727 people worked in the bank, by the end of the second quarter their number was 710. Interestingly, in the bank’s report for the first half of the year data on their employees was only for the second quarter and did not present the ratio of workers since the beginning of the year.
However, according to the rules of reports, the disclosure.az site should be available within five years, but the data of Bank of Baku for the beginning of the year could not be found on this website.
According to the same report for the first half of the year the bank closed three of its branches - the branch Khagani in the Sabail district, the branch Otoplaza on Ziya Bunyadov Avenue and the Ganja branch in the Ganja city. -----71D
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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