Vusal Gasimli: Banks are one of main pillars of country's economy in Azerbaijan

In Azerbaijan, banks are one of the main pillars of the country's economy.

Central Bank currency rates for 3 December

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

Data unveiled on manat circulation rate

As of November 1, 2024, the circulation rate of Azerbaijan's national currency, the manat, was 3.59 points.

Deposits in credit institutions grew more than by 2 bn manats

As of November 1, 2024, the total amount of deposits in credit institutions reached 37.2 billion manats (2.3 billion manats, or 5.8% more against Jan-Oct 2023)

Monetary base in Azerbaijan lowered by 1.4% for Jan-Nov

Central Bank's foreign exchange reserves reduced by $404 million

The foreign exchange reserves of the Central Bank in November decreased by another $403.9 million, or 3.55%.

Most of the loans in foreign currency given in these cities and districts

As of November 1, 2024, the total loan portfolio of Azerbaijani banks in foreign currency amounted to 4.6 billion manats.

Consumer loan portfolio of Azerbaijani banks grew by 1.476 billion manats

Russia's budget deficit for 2025 to exceed $10 bn

The federal budget deficit of the Russian Federation will amount to 1.173 trillion rubles (about $11 billion) in 2025, and 2.181 trillion in 2026 rubles, in 2027 - 2.761 trillion rubles.

Central Bank currency rates for 2 December

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

Business loans increased in Azerbaijan

The share of loans given to small & medium-sized businesses in the portfolio of Azerbaijani banks continues to decline.

Demand for consumer loans decreased slightly

In the 3rd quarter of 2024, credit standards were tightened in general for consumer loans, including credit cards.

With Birbank ınstallment card, enjoy 9-month interest-free installment offer on “Trendyol”

Banks' portfolio of business loans exceed 14.5 bn manats

Central Bank currency rates for 29 November

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

Overall loan portfolio of banks exceeds 27 bn manats

JPMorgan predicts a 10-15% drop of Chinese yuan

JPMorgan expects the average effective U.S. tariff on China to be 60% and forecasts slowdown in growth of the Chinese economy and emerging markets in 2025.

Over $487 million sold at currency auctions in a month

This year, Azerbaijan's public debt grew by 52.3%

As of October 1, 2024, Azerbaijan's public debt amounted to 26.2 billion manats or 21.6% of GDP projected for 2024.

Kapital Bank recognized with two prestigious international awards in retail banking

Banks increased demand at foreign exchange auction by 9.3%