Unibank has undertaken staff changes. A member of the Board and Head of the Risks Department Azad Gasimov voluntarily left these two positions in favor of working a non-financial holding. Instead, the functions are performed by the Operations Director Yalcin Taryverdiyev.
According to the information, Majid Mammadov became head of the Corporate Services instead of Igor Okayev, who went to another commercial bank.
Executive Director of the bank is Khalid Ahadov, his first deputy and senior financial administrator is Emin Rasulzadeh, Director of Administration and Business Support is Vadim Gadirov, the Director of the Distressed Consumer Credits Department is Araz Karimov, the Director of the Retail Banking Department is Taleh Tahirli, and the Chief Technology Officer is Asif Nazarov.
JSC Unibank is valid from 15 October 2002 since the merger of two private commercial banks in Azerbaijan - M Bank and Promtechbank.
The main shareholder is Eldar Garibov (68.3384%). The European Bank for Reconstruction and Development has 15.1515%, the German Investment Corporation owns 8.3333%, Zemfira Jafarova has 5.5%, and minority shareholders have 2.6768% of the shares. --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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