Total assets of banks in Azerbaijan on May 1, 2014 amounted to 22,009,500,000 manats.
According to the information on the official website of the Central Bank (CBA), this is 8 % more than in January this year - 20,385,100,000 manats.
Credit investments of banks in the reporting period amounted to 15.7756 billion manat (+5.2 % YTD), and equity capital was 3,605,400,000 manats (+5.2 %).
As of early May 2014, banks in Azerbaijan attracted population deposits amounting to 6,569,900,000 manats (+2.7 % YTD). Nevertheless, mass withdrawals from the accounts were recorded - minus 1.3 % as of 1 April, when the accounts of private investors were 6,656,300,000 manats. -17D-
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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