The shares of Azerbaijan Credit Bank, starting from the 13th of March in Baku Stock Exchange, can be considered valid. As of March 18 were placed 63.7% shares of the bank, which intends to increase its authorized capital to the required level - 50 million manat.
According to the BSE, six transactions attracted about 25 million manat. Thus, the paid-up share capital reached 36 million 383 thousand manat.
In January of this year the issue of shares totaling 38 million 752 thousand manat was registered. Shareholders are three members of the family Abbasovs in Baku. Who pays for the new issue is not known.
It is noteworthy that even after full payment of the authorized capital of Azerbaijan Credit Bank it will not meet the requirement of the Central Bank on the size of the total capital. The fact is that, as of 31 December 2014 its capital, taking into account the outstanding 6.3 million of losses, amounted to only 5 million manat. Thus, the bank will have to seek additional capital.
In terms of assets (21.6 million manat) Azerbaijan Credit Bank lags behind many banks in the country. 08B
Economics
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Russia could partially reroute its natural gas supplies to European countries through Turkey and Bulgaria, bypassing Ukraine, using the "Balkan Stream" and the Trans-Balkan Pipeline, according to Alexei Belogoryev, Director of Research at the Institute of Energy and Finance.
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Representatives of Azerbaijan's Land Transport Agency (AYNA) and the State Customs Committee visited the Julfa and Poldasht border checkpoints to address challenges in cargo transport and enhance border efficiency with Iran.
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The Azerbaijani government has adopted new guidelines to facilitate employment for individuals with special social protection needs and those facing difficulties in securing jobs. The resolution, approved on December 29 by the Cabinet of Ministers, outlines targeted programs aimed at job creation through public-private collaboration.
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The Cabinet of Ministers of Azerbaijan has approved new regulations to facilitate targeted employment programs aimed at supporting individuals with special social protection needs and those facing employment challenges. The measures, under the State Employment Agency, seek to enhance job creation in priority economic sectors.
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