CBA sees no problems in "Nakhchivanbank" closure
Reorganisation of the only regional bank of Azerbaijan - "Nakhchivanbank" into a non-banking credit organisation (NBCO) "E-kredit" bank does not pose a threat to the bank's creditors, including its depositors.
The Central Bank of Azerbaijan (CBA) said in a statement.
"According to the latest report, "Nakhchivanbank" has no financial difficulties, its assets make it possible to fully fulfill obligations to all physical and legal entities. The specific weight of the bank in the sector is 0.24% on assets, including 0.04% on loan portfolio and 0.003% on liabilities. "Nakhchivanbank will soon fulfill its obligations to depositors and other creditors based on the plan adopted pursuant to the rules," the statement said.
Finance
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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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