In June, three banks decided to send their retained earnings totaling 56.6 million AZN to increase the authorized capital.
On 25 June the State Securities Committee provided new registration numbers to securities of JSC AFB Bank, Capital Bank and Khalg Bank. All of them converted their shares with a higher rating. Thus, the nominal value of 15 million shares of JSC Capital Bank increased from 10 to 12 manats and 39 gepiks, 47,202 shares of AFB Bank - from 1,109 AZN to 1,265 AZN and 3,630,300 shares of Khalg Bank - from 50.6 to 54.3 manat.
In June, only one issuer (Turanbank) decided to raise capital by mass supply. On the exchange 27 investors bought the entire amount of the supply, which is 3 million manat. - 08D-
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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