JSC Turanbank begins on April 1 of this year to accommodate 9.243 thousand ordinary registered non-documentary shares of AZN 1082, - the BSE said.
The issue of the shares is included in the quotation list of the exchange. According to the prospectus, the placement will be the method of mass supply. The underwriting services are provided by Chelsea Capital Ltd.
At full deployment of the new shares the authorized capital of the bank will increase by 33.3% and reach 40 million manat.
The shareholders of Turanbank acting since 1992 are 21 individuals and five legal entities. - 15B -
Economics
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Azerbaijan's Consumer Price Index (CPI) in December 2024 marked a year-on-year increase of 4.9%, with food and beverage inflation leading the surge, according to data from the State Statistics Committee. The overall CPI stood at 104.9%, driven by a 5.5% rise in food products, beverages, and tobacco, 2.4% in non-food products, and a sharp 6.3% hike in paid services provided to the population.
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In 2024, Azerbaijan produced 29.1 million tonnes of oil together with condensate, down from 30.2 million tonnes in 2023, according to preliminary information published by the country’s Ministry of Energy.
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Azerbaijan’s inflation rate in 2024 remained relatively stable, averaging 2.2% for the year, according to data from the State Statistics Committee. While this marks a period of subdued price growth compared to global trends, the numbers reveal nuanced dynamics across sectors and reflect both domestic policy measures and external influences.
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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