Total assets of Azerbaijani banks increased in October by 311 million or 2% to 16,309.9 mln. Since the beginning of the banking assets grew by 17% and for the year to 2,806.9 million or 20.8%.
According to the Central Bank of Azerbaijan, credit investments on November 1 totaled 11,422.4 mln, an increase in the reporting period by 2.4%. Over the past year, lending to the economy grew by 20%.
Deposits in banks in October increased 133.4 million or 2.9% to 4,689.7 million manat. This indicator since the early year grew by 13.8%, and for 12 months - 27.6%.
The aggregate capital of the banking sector increased in the reported period by 63 million or 2.7% amounting to 2,360.3 million manat. During the year the figure rose by 310.4 million or 15.1%. - 15B -
Economics
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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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