VTB Bank (Azerbaijan) OJSC announces tender 

Morgan Stanley CEO James Gorman to step down

Morgan Stanley chief executive James Gorman will step down as the company’s head within the next 12 months, ABC.AZ reports with reference to The Wall Street Journal.

Deposit Insurance Fund puts up property of banks for sale

The Azerbaijan Deposit Insurance Fund has put up for sale the apartments belonging to banks that have ceased operations.

Banks with reduced interest expenses

Interest expenses of two out of 25 banks operating in Azerbaijan in the first quarter of this year were low compared with Q1 of 2022.

Banks with quarterly interest expenses exceeding AZN 15 million

Out of the 25 banks operating in Azerbaijan, five banks’ interest expenses exceeded AZN 15 million in the first quarter of this year.

Central Bank currency rates for 22 May

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

Australia imposes sanctions against several Russian banks

UK imposes sanctions against five Russian banks

The UK has imposed new sanctions against Russian banks.

Banks with non-interest income of over AZN 10 million

Out of the 25 banks operating in Azerbaijan, five in the 1st quarter of this year had non-interest income of more than AZN 10 million.

IMF closes its office in Azerbaijan

The International Monetary Fund (IMF) has decided to close its Baku office by the end of June 2023.

Central Bank currency rates for 19 May

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

Banks with reduced interest income

Two out of 25 banks operating in Azerbaijan had low interest income in the 1st quarter of this year compared with Q1 of 2022.

Banks with interest income of over AZN 43 million

In the 1st quarter of this year, out of 25 banks operating in Azerbaijan, five had interest income of more than AZN 43 million.

Demand at currency auction fell by 27%

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

VTB (Azerbaijan) will hold an extraordinary General Meeting of Shareholders

Central Bank currency rates for 18 May

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

Digital banking has grown in Azerbaijan over past 5 years

Over the past 5 years, there has been a sharp increase in digital banking and payments in Azerbaijan.

CBA develops a strategic state program for 3 years

The Central Bank intends to increase the share of financial technologies in the market.

Another adviser to CBA chairman appointed

Central Bank of Azerbaijan’s chairman Taleh Kazimov has appointed another adviser, ABC.AZ reports with reference to the CBA.

Expert: Over 3 years passed, but Deposit Insurance Fund does not remember about these finances

"The Central Bank revoked the license from Günay Bank. The legal entity froze 1,950 manats, which are on our current account. Rather, they are gone..."

Number of banks to fall below 20 in coming years - Statement