State Budget transfers relating to national services increase - A new document

Azerbaijan State Budget transfers for 2023 in connection with national services will increase by AZN 316.25 million or by 8.3% from AZN 3.808 bn to AZN 4.124 bn.

Presidential Reserve Fund reduced

Azerbaijan State Budget transfers to reserve funds for 2023 are reduced by AZN 190.5 million or 31.2% from AZN 610 million to AZN 419.5 million.

Central Bank currency rates for 31 May

Azerbaijani manat rate has grown to the euro, to the Turkish lira and to the Russian ruble, while is stable to the US dollar.

Loans to entrepreneurs in Nakhchivan observed growth

In the first 4 months of 2023, the volume of loans given to entrepreneurs in the Nakhchivan Autonomous Republic increased 2.2-fold.

SOFAZ budget revenues increase by 82%

State Oil Fund’s budget revenues included in the consolidated budget of Azerbaijan are expected to amount to AZN 16.337 bn.

Subsidies to Nakhchivan increased

State Budget deficit grew by AZN 210 million

The deficit of the revised State Budget of 2023 has been increased by AZN 210 million and brought to AZN 2.789 bn

Azerbaijan’s State Budget revenues and expenditures increase

The forecast on State Budget revenues for this year has been increased from 30,773,978 manats to 33,779,500 manats, and the forecast on expenditures from 33,353,278 manats to 36,568,800 manats,

IKD has published a report — There is lag on significant indicators

NBCO IKD LLC has published financial indicators for 2022.

S&P Global Ratings has published a forecast on banking sector of Azerbaijan

International credit rating agency S&P Global Ratings has voiced assumptions about high risks for the banking sector of Azerbaijan in the 2nd quarter of 2023.

Demand at currency auction decreased by 37.4%

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.

Central Bank currency rates for 30 May

Azerbaijani manat rate has risen to the euro and to the Turkish lira, while is stable to the US dollar and Russian ruble.

Another appointment to Kapital Bank Board of Directors

A new member of board of Kapital Bank has been elected.

Azmikroinvest’s assets for 2022 lowered - Report

Last year, the assets of NBCO Azmikroinvest reduced by 8.6%, or almost by AZN 149,000, to AZN 1.585 million.

Azmikroinvest moves from profit to loss - Report

NBCO Azmikroinvest LLC has published financial indicators for 2022.

Banks with increased income tax payments

Out of the 26 banks operating in Azerbaijan, 10 banks paid income tax for Jan-Mar 2023, and in six banks this figure was higher against Jan-Mar 2022.

List of main Russian gold buyer countries

The UAE, Türkiye and China have been named as key buyers of Russian gold after Western sanctions were imposed

Banks paying income tax ahead of schedule

Out of the 25 banks operating in Azerbaijan, 10 banks did not wait for the end of the year to pay income tax.

VTB Bank (Azerbaijan) OJSC announces a tender

VTB Bank (Azerbaijan) OJSC  announces a tender

Iranian bank’s interest income amounted to AZN 798,000 and interest expenses only AZN 19,000 - The foreign bank published a report

The Baku branch of the National Bank of Iran has announced the results of Q1 of 2023.