The Management Board of Para Bank has convened an emergency general meeting of the shareholders. The shareholders will discuss the issue of the continuation of the activities of the legal entity as a different company after the liquidation of the bank.
The bank does not comment on the agenda. Perhaps we are talking about the transformation of the bank into a non-bank credit organization.
Last week the Financial Markets Control House made a decision on liquidation of the banking license of Para Bank.
The equity of the shareholders of the bank is 38 million AZN. At the beginning of 2016 the bank's assets were estimated at 169 million AZN, and the liability - 155.8 million AZN.
Recently, the bank announced capital rise by another 15 million AZN.
The bank is controlled by the family of Eldar Guliyev. ----- 08B
Economics
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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