50 bn manats to be allocated to finance social mortgage

26.09.2016 [18:39]
The Azerbaijan Mortgage Fund will be allocated 50,000,000,000 manats for the financing of social mortgage in 2017, Minister of Finance Samir Sharifov has told journalists. ...

Price of oil set at $40 per barrel in 2017 state budget

26.09.2016 [16:39]
The price of oil is set at $40 per barrel in the state budget of Azerbaijan for the next year, Minister of Finance Samir Sharifov has told journalists. ...

AIIB breaks ground for headquarters in Beijing

24.09.2016 [15:12]
A groundbreaking ceremony for the permanent headquarters of the Asian Infrastructure Investment Bank (AIIB) was held in Beijing, according to Xinhua. The headquarters will be located in the north of Beijing, between the Olympic Forest Park ...

Azerbaijani bank in Montenegro changes name

23.09.2016 [11:54]
Azerbaijani capital "Azmont bank” in Montenegro has changed its name to Nova Bank, since June. Azmont Bank is owned by Azmont Investment, a subsidiary of Azerbaijan Global Investments (AGI). The bank was established in ...

Azer Turk Bank offers payment cards with new design

21.09.2016 [13:56]
Aspiring to preserve and protect the national heritage Azer Turk Bank has started new project. The Bank has presented new designs prepared for “VISA” type payment cards. Now every citizen of Azerbaijan may proudly carry the card with national values ...

Incomes of Azerbaijani population increase by 8.6% in Jan-Aug

19.09.2016 [12:26]
Income of the Azerbaijani population in January - August increased by 8,6% and reached 28 972,4 mln AZN in nominal terms compared with the same period last year. According to the State Statistical Committee, volume of per capita average income constituted 3011,7 AZN ...

Canada to apply to join AIIB

31.08.2016 [18:31]
Canada has decided to apply for membership of the Asian Infrastructure Investment Bank (AIIB), Canadian Finance Minister Bill Morneau announced at a press conference in Beijing Wednesday, according to Xinhua. ...

Authorized capital of Private Credit Bureau to be 2.2m euros

29.08.2016 [16:43]
The authorized capital of the Private Credit Bureau will be 2.2 million euros, Azerbaijan Banks Association has said. Icelandic credit bureau and information services group Creditinfo will own 51 per cent of shares of the credit bureau ...

Students attended internship program at FINCA Azerbaijan

24.08.2016 [18:47]
A student group took part in a summer internship program at “FINCA Azerbaijan” Non-Bank Credit Organization. Five students from different universities had an opportunity to get acquainted with real work environment at the Organization and develop their some skills by attending one month internship program ...

Loan portfolio of banks and non-bank credit institutions totals nearly 18.5bn m

13.08.2016 [15:57]
According to Azerbaijan`s Central Bank, the total loan portfolio of banks and non-bank credit institutions in the country amounted to 18,434,200,000 manats as of July 1. Official figures show that of this amount 14,374,900,000 manats were allocated in long-term ...

Azerbaijani population's income grew 8.5 per cent this year

13.08.2016 [15:55]
Azerbaijan`s State Statistical Committee has said the income of the country`s population saw a 8.5 per cent growth in the nominal terms compared to the same period last year. According to official figures, 77 per cent of Azerbaijani citizens` income went on consumer spending ...

State budget receives over 7bn manats in 7 months

13.08.2016 [15:32]
According to Azerbaijan`s Ministry of Finance, the state budget of the country received 7,007,500,000 manats in the first seven months of this year. The budget spending was 8,193,500,000 million during this period. The ministry said 1,186,000,000 deficit was at the level of ...

VTB Bank (Azerbaijan) plans to contribute to Russian-Azerbaijani trade and economic cooperation

09.08.2016 [13:59]
VTB Bank (Azerbaijan) officials have revealed plans to contribute to Russian-Azerbaijani trade and economic cooperation and assist businessmen of both countries in doing business in Azerbaijan and in Russia. The bank officials offered their help as they met with businessmen as part of an expanded ...

SOFAZ sells $49,4M to 28 banks

04.08.2016 [12:55]
The State Oil Fund of Azerbaijan (SOFAZ) sold $49,4 million to 28 local banks at the auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said. SOFAZ had offered $50 million for sale ...

SOFAZ sells $49,1M to 29 banks

02.08.2016 [12:58]
The State Oil Fund of Azerbaijan (SOFAZ) sold $49,1 million to 29 local banks at the auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said. ...

ACB attracts AZM 20 mln at deposit auction

01.08.2016 [12:55]
The Central Bank of Azerbaijan (CBA) said on Monday that it attracted 20 million Azerbaijani manats at a deposit auction. Interest rate on the banks’ deposits accounted to 6.99%. ...

IBA holds general shareholders' meeting

27.07.2016 [17:11]
The ordinary general shareholders' meeting of the International Bank of Azerbaijan OJSC (IBA) was held on July 26. The financial statement for the year 2015 recommended by the Audit Committee of the bank and approved by the external auditor was adopted during ...

Moody's affirms the rating of Bank of Baku

27.07.2016 [13:32]
Moody's Investors Service has today taken rating actions on Bank of Baku. Moody assigned long-term global local-currency and foreign-currency deposit ratings of B3 to OJSC Bank of Baku (Bank of Baku), ...

International Bank of Azerbaijan increases number of payment cards

25.07.2016 [17:06]
The International Bank of Azerbaijan (IBA) strengthened its positions on the payment cards market, the number of which achieved 1,286,100 on July 1. During the last year, the IBA significantly improved its service quality and efficiency of its ATM network ...