Azerbaijan's foreign exchange market declined

Transactions in the amount of $7.8 bn were carried out on the foreign exchange market of Azerbaijan for the 1st quarter of 2023.

Banks with increased authorized capital in the current year

Four out of 25 banks operating in Azerbaijan had large authorized capital as of April 1, 2023 against the annual indicator.

Money transfers to Azerbaijan increased by 84.2%

Banks with authorized capital of over AZN 300 million

Out of the 25 banks operating in Azerbaijan, five had authorized capital of more than AZN 300 million as of April 1, 2023.

Banks' demand declined 2.3-fold at currency auction

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

Embafinans management received bonuses

The management of one of the non-bank credit organizations, Embafinans CJSC, received a bonus of about half a million manats by the end of 2022.

Central Bank currency rates for 16 May

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.

Access to bank loans becomes more complicated

Access to bank loans is becoming more difficult in Azerbaijan.

Growth of interest rates increases number of problem loans

Luis de Guindos, vice president of the European Central Bank, stated that monetary policy has reached the last level of tightening.

NBCO ended last year with net loss of AZN 400,000

Banks with balance sheet capital of over AZN 150 million

Five out of 25 banks operating in Azerbaijan had balance sheet capital of more than AZN 150 million as of April 1 of this year.

Central Bank currency rates for 15 May

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

NBCO reduces its authorized capital

SOFAZ assets exceed $54 bn

The assets of the State Oil Fund of Azerbaijan have exceeded $54 bn.

Turkish lira continues to get cheaper – Cause

Less than two days before the elections, the Turkish lira continues to fall in price.

CBA adopts Cybersecurity Strategy in Financial Markets

The Central Bank of Azerbaijan (CBA) has adopted a Cybersecurity Strategy in Financial Markets.

Central Bank currency rates for 12 May

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

Finex Kredit’s net interest income has halved

NBCO Finex Kredit has published its financial results for 2022.

Bank of England raised rate up to 4.5%

The Bank of England has once again raised the rate - by 25 basis points, to 4.5% per annum

S&P Global Ratings’ statement on problem loans in Azerbaijan

International rating agency S&P Global Ratings has published a forecast on problem loans in the banking sector of Azerbaijan.

AZN 4.58 bn directed for fixed capital

Azerbaijan directed AZN 4.58 bn for fixed assets for Jan-Apr 2023 (21.1% more versus Jan-Apr 2022).