Azerbaijani banks last year invested in securities 1 billion 772.9 million manat.
As stated in the annual report of the Central Bank of Azerbaijan, as of January 1 of this year the total bank investments in securities amounted to 8.7% of all bank assets (previous year was 9.1%).
The highest peak of activity occurred in the fourth quarter, when the investment portfolio in CB "swelled" to 287.3 million manat.
According to the economist Samir Aliyev, activity of the bank investing in securities decreased due to their low annual yield. Most banks are forced to acquire bonds of the Mortgage Fund with profitability of 3%. So it seems more profitable to "get into the pocket" of the population, giving consumer loans at 18-30%, the expert said.
The share of consumer loans in the loan portfolio of banks by July 1 was 40.2%, which confirms the words of Samir Aliyev. - 17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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