BAKU/18.10.13/TURAN : Total number of active cards issued by JSC PASHA Bank increased during the nine months of the year by 1967 units or 34 % , reaching 7744 units.
As reported in the bank during the reporting period, the bank has mounted an additional two ATMs , bringing the total number of the equipment up to 17 pieces.
Pasha Bank has the status of a principal member of international payment systems MasterCard and Visa International.
The bank is part of the Group's PASHA - a major investment holding company in Azerbaijan is also widely represented in sectors such as insurance, construction, construction materials , tourism and other areas of business . Capital Bank, one of the largest banks in the retail market of Azerbaijan, also belongs to the group of companies PASHA. - 15B -
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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