By October 1, the number of bank branches in Azerbaijan has increased to 743 (+ 6.1% at the beginning of the year). This is done due to private entities (total 707), while in the banks with state shares (total 36) there was no change.
Total, according to the Central Bank by the end of three quarters licensed were 2 banks with state capital and 42 commercial structures with the right to provide similar services.
At the beginning of the year there were branches of 39 banks, while this year two more banks got branches.
Furthermore, increased the number of sub-branches (+ 4.7% against the beginning of the year) - up to 155 units.
The number of affiliated banks abroad is 4 and the representative offices abroad are 7. --17D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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