The deposit portfolio of individuals at VTB Bank (Azerbaijan) in the national currency increased by 72% from December 31, 2015 to December 15, 2016, the bank said.
The most significant growth during this period was demonstrated by timed manat deposits of retail customers, which increased by 79.4%.
VTB (Azerbaijan) offers deposit products to the population at the highest rates, which, depending on the term and interest payment conditions, constitute 15-17% per annum.
OJSC VTB Bank (Azerbaijan) is a subsidiary of VTB Bank (PJSC). Shareholders of OJSC VTB Bank (Azerbaijan) are VTB Bank (PJSC) and OJSC Ata Holding. ----71D
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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