Total assets of Azerbaijani banks increased in May of this year at 212.2 million or 1.1% to 19,192 million manat. From the beginning, bank assets grew by 8.8% and for the year to 4,371.1 million or 29.5%.
According to the Central Bank of Azerbaijan, credit investments as of June 1 totaled 13,052.7 million manat, a decrease in the reporting month by 0.9%. Over the past year, lending to the economy grew by 26.3%.
Deposits in banks in May increased by 123.2 million or 2.1% to 5891.5 million manat. This figure since the beginning of the year grew by 15.2%, and for 12 months - 36%.
The total capital of the banking sector has increased in the reporting month by 46.7 million or 1.7% amounting to 2770.8 million manat. During the year the figure rose to 700.6 million or 33.8%. - 15B -
Economics
-
The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
-
Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
-
The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
-
In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
Leave a review