Published Annual Report of Rabitabank
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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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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