The only regional bank Ganjabank has continued offering of shares in the next issue.
According to the Baku Stock Exchange (BSE), on the site where trades are conducted, from May 31 through June 6, only three customer transactions (400, 200, and 500 thousand manat) repaid the sum of 1.1 million manat. After a series of placements authorized capital of the financial institution increased to 16.1 million.
Recall, as of January 1, the total capital was at 14.17 million manat and the paid charter capital was 15 million manat.
According to the request of the CBA, before 1 January 2014 the existing banks (43) and the newly formed similar structures should bring the total size of share capital to 50 million manat, otherwise the license will be revoked.
The bank was founded Feb. 28, 1994. It has 4 branches - in Baku, Ganja, Shamkir and Barda. It operates under license № 02-10/59 dated February 01 of 2001. Chairman of the Board is Fuad Musayev.
The last year the bank completed with a loss of 872 thousand manats. - 17B -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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