On August 25 there will be an extraordinary general meeting of shareholders of JSC VTB Bank (Azerbaijan) - a subsidiary of Russian Vneshtorgbank with a controlling stake. The management report is not mentioned on the agenda. However, according to experts, there is an urgent financial situation.
JSC VTB Bank (Azerbaijan) was established in November 2008, based on AF Bank, since the Central Bank of Azerbaijan transferred 51% of it to the Russian Vneshtorgbank. Today, the bank's authorized capital is 50 million 815 thousand AZN. The main share (51%) is owned by Vneshtorgbank, 48.99% is owned by Ata Holding, and 0.01% - by an individual.
The bank provides services to corporate clients and small businesses, as well as private clients, and has 15 branches. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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