In November, six financial entities attracted about AZN 86.5 million to the share capital through an open exchange distribution.
According to periodic data of BSE, in November there were granted 30 applications for the purchase of shares of four commercial banks (Gunay Bank, Rabita Bank, Azer-Turk Bank and Atra Bank). The total volume of these transactions amounted to about 85.3 million manat. The share of Gunay Bank accounts for more than half (43.8 million manat) of the monthly volume of the exchange offering.
In November, shares of the insurance company Bashak Inam (1 million AZN) and Finex Credit (200,000 manat) were also purchased. -08B—
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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