JSC Ata Bank expands its branch network. Another branch of the capital, Bakikhanov, has opened in the eponymous settlement of the Sabunchu district.
According to the financial structure, the branch Bakikhanov is located at 35 Avenue M. Fataliyev. As with all counterparts, it will provide individuals and legal entities with a full range of banking services.
The network of Ata Bank includes 26 branches and sub-branches, both in Baku and in the regions of the country.
JSC Ata Bank was established in 1994 and is part of the investment Ata Holding. -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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