The NAB Group of Companies concluded last year with a net loss of 200,024 manat (+ 51.5% to losses in 2013), as evidenced by the published financial statements based on audit.
Its assets as of 1 January of this year was at the level of 20,630,500 manat (minus 18.6% for the year) and the shareholders' equity decreased by 1.3% to 15,226,410 manat. The authorized capital is unchanged - 15,526,780 manat. Commitments for the year decreased by 45.4% to 5,404,100 manat. The operating income amounted to 163,140 manat (4.9-fold reduction) and the net operating losses were 68,160 manat (in 2013 there was a profit of 39,310 manat).
The group's unplanned revenues amounted to 362,000 manat and the unplanned expenses were 493,870 manat in 2014.
The NAB Group originates from «Dış Ticaret Limited», Oromi based in 1988 in Istanbul. The Group includes the NAB Auto Azerbaijan, and Bank of Baku, Baku Electronics, Baku Service Company, and Qafqaz Leasing. NAB also owns shares in the insurance company Buta Sigorta. Among the shareholders of NAB are the Iranian businessmen Bahran and Shahram Oromi. Media noted that Oromi sold their shares in the Bank of Baku to the influential Azerbaijani. In 2014, the National Security Ministry conducted an operation in the Bank of Baku in connection with information about laundering Iranian money.-- 17D-
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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