ExpressBank breaks rules – Economy Ministry issued a warning

The State Service for Antimonopoly Control & Consumer Market Supervision (under the Ministry of Economy) has reported on the violations in the advertising of banking services in Azerbaijan.

Real estate owned by Gəncə Bank put up for auction

An open auction for the sale of real estate of Gəncə Bank, which is in the process of liquidation, will be held at Baku Auction Center LLC on 27 April.

Banks’ demand at currency auction decreased by 7.8%

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

ADB improves economic growth forecast for Azerbaijan

The ADB expects Azerbaijan's GDP to be 3.5% higher this year than in 2022.

Central Bank currency rates for 4 April

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

New chairman of ABA

The new chairman of the ABA Human Resource Management Expert Group has been approved.

Birbank cardholders earned AZN 5.4 million cashback in March

Entrepreneurs to be able to get a profitable loan

The banks softened standards for business loans given in the 4th quarter of 2022.

Central Bank currency rates for 3 April

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

No more than 5% per annum of amount may be collected from debtor for delay

If a transaction is concluded using electronic information systems in compliance with the relevant requirements, it will be considered a written transaction.

Central Bank: Deposits are mainly placed for 1-3 year term

Ilham Aliyev has given time to Central Bank

The Central Bank of Azerbaijan is to approve the standard form of information.

Joe Biden appeals to regulatory authorities of banking sector

MP: Tax deduction from deposits reduced volume of deposits

Taxation of deposit income in banks since last month has led to decrease in the volume of population’s deposits in banks.

Growth of centralization is observed in banking sector of Azerbaijan

There is tendency in the banking system of Azerbaijan to increase the level of centralization (concentration in one or several hands).

Elon Musk criticized U.S. financial policy

Tight monetary policy in the U.S. forces foreign countries to abandon the dollar.

Central Bank currency rates for 31 March

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

Volume of problem loans in Azerbaijan has increased

As of 1 March 2023, the volume of overdue loans in Azerbaijan amounted to AZN 606.1 million (3.8% more than on 1 February 2023)

Money transfers from Azerbaijan for 2022 increased by 0.5%

The money transfers from Azerbaijan abroad amounted to $664.798 million last year.

Money transfers to Azerbaijan increased 3.2-fold in 2022

Individuals’ money transfers to Azerbaijan amounted to $3.62 bn in 2022 (3.2-fold more than in 2021), ABC.AZ reports with reference to the Central Bank of Azerbaijan.

Banks’ net profit grew by 45% and operating profit by 55%