The Financial Markets Supervision House (FMSH) registered 4,622 shares of Turan Bank at a nominal value of 1,082 manat each. Thus, the authorized capital of Turan Bank increased 5 million AZN to 55,002,466 AZN.
JSC Uni Bank is increasing its authorized capital by 55 million AZN. FMSH registered 20,220,589 shares of Uni Bank with a nominal value of 2.72 AZN each. The authorized capital of the bank will amount to 125,565,232 AZN.
Shares of each of the above-mentioned JSCs will be distributed to the shareholders. -71D-
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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