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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The Eurasian Development Bank (EDB) is actively exploring the possibility of expanding its shareholder base to include neighboring countries such as Azerbaijan, Turkmenistan, and Mongolia. This was announced by EDB Chairman Nikolai Podguzov at a press conference on December 5, 2024, where he emphasized the importance of expanding the bank’s membership to foster sustainable growth.
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In 2023, the trade turnover between Azerbaijan and Turkey reached $7.5 billion, aligning with 50% of the target set by both nations, which aims for $15 billion in future bilateral trade. This milestone was shared by Barış Altıparmak, the World Turkish Business Council representative for Azerbaijan, during a meeting of the Eurasian Council of the organization in Baku.
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Azerbaijan's President Ilham Aliyev signed a decree on Thursday to establish the Nakhchivan Industrial Park in the Nakhchivan Autonomous Republic, aiming to foster competitive production and bolster entrepreneurial growth.
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SOCAR and Yokogawa Electric signed a Memorandum of Understanding (MoU) on Thursday to enhance their collaboration.
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