In the first six months of 2016 the number of employees of Bank Respublika decreased by 67, from 635 to 568.
During this period the bank closed four of its branches in Sheki, Imishli, Goychay, and Shemkir.
The shareholders are 14 individuals and 5 legal entities.
In October, the bank increased its authorized capital by 20 million manat and brought it up to 57,461,021 manat.
16.6% of its shares are owned by Natig Saday Oglu Guliyev, 15.1% - by Elchin Saday Oglu Guliyev, 14.5% - to Sevda Saday Gyzy Guliyeva, 14.3% - to Saday Asad Oglu Guliyev, and 14% - to Maria Heydar Gyzy Guliyeva.
The Chairman of the Supervisory Board is Elchin Guliyev. -----71D
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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