Joint Leasing Portfolio Increased in 7 Months by 13.5%
The portfolio of Joint Leasing Company on August 1 of this year amounted to 35 million manat, increasing from the beginning of the year by 4.2 million or 13.5%.
As reported in the company, during the reported period the authorized capital of the bank remained unchanged and amounted to 700 thousand manat.
Joint Leasing Company has operated from 14 June 2007 as the legal successor of the company Azerleasing. Its founders are the British company Dolphin Leasing (52.3%) and the International Bank of Azerbaijan. - 15B -
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review