The BSE today launches placement of unsecured interest-bearing book-entry bonds of Brand Credit. The underwriter is LLC Unicapital.
The State Committee for Securities registered in the beginning of this month the prospectus of Brand Credit bonds totaling 1 million manats. The par value of a bond is 1 AZN, the period is 1,080 days, and the annual interest rate - 14%.
Non-bank credit organization Brand Credit has been valid from 2011. The authorized capital of the company is 900 000 manats. One of the major shareholders (47% equity) is the Chairman of the Board of DekaBank. -15B -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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