By the end of last year Rabitabank had 20 million 61 thousand AZN in cash. As stated in the annual report
(http://www.rabitabank.com/az/Investor_contacts/useruploads/files/Rabitabank%20IFRS%20Audit%20Report%20and%20Financial%20statements%20as%20of%2031122014.pdf), the local financial structure’s loan portfolio to the beginning of this year amounted to 218.03 million manats, of which 110 million was invested in real estate. Thus on loans to individuals, including businessmen, it had 187.52 million manats (49 million per year). In trade there was invested 30,190,000, in transport and communications - 17,020,000, in agriculture - 6.7 million, in production - 6.67 million manats.
JSC Rabitabank was founded in 1993. Service network of the bank consists of 22 branches and 2 offices covering Baku and 16 regions of the country. Its shareholders are 19 legal entities and individuals. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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