Rotation in Rabitabank OJSC
In Rabitabank OJSC rotation occurs - the decision of the general meeting of shareholders of the bank appointed Chairman Elchin Gadimov, who since 2006 held the position of deputy chairman of the bank.
According to the report of the financial structure, he replaced Nikoloz Shurgaya who departed in early October because of the expiration of the contract. Last 3 weeks Gadimov was the Acting Chairman.
According to the development plan of the bank for 2013-2017, the bank plans to the end of 2014 to increase its loan portfolio to 175.65 million and by the end of 2017 - up to 345.72 million manat. The assets of the bank are expected to be 253 650 000 and 505 680 000 manat respectively.
Rabitabank operates on the banking market since 1993. Its shareholders are the 13 legal and 5 individuals. The main share (99.48%) belongs to individuals (Zakir Nuriyev - 25.56%, Aslan Khasiev - 24.77%, Seyran Nuriyev - 23.58%, Dilara Nuriyeva - 13.48%, Yashar Gurbanov - 12 09%.
On the territory of the country operate 22 branches of the bank. --17D-
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review