for January from Azerbaijan’s insurance and banking sectors,
including insurance companies’ payment and premium rates and their
dynamics for last, were revealed, Trend reports.
Data for January from Azerbaijan’s banking sector was also
published last week. Bank profits have decreased, while
manat-denominated loans have increased. The volume of the money
supply in manat was clarified, and the manat’s circulation speed
stood at 3.26 points. Additionally, the nominal and real effective
exchange rates of the manat increased, and credit allocations to
the economy grew by nearly 5 billion manat ($2.9 billion).
Moreover, January’s data on regional loan allocation and
deposits attracted from regions were disclosed. The volume of
deposits from the Karabakh and East Zangezur regions has risen. The
volume of loans in these regions was also revealed.
Last week, data for Azerbaijan’s payment sector for January was
also made public.
The Board of Directors of the Azerbaijan Banks Association was
confirmed.
The statistics from last week showed a 20 percent increase in
budget revenues from the lease of state property, while
privatization revenues for the state budget amounted to 108.9
million manat ($64 million).
The data also shows that a new initial public offering (IPO)
will be made this year, issuing shares to the market.
Additionally, last year’s agricultural insurance payouts were
reported, with the fund’s investment directions for this year
expected to be around 22-23 million manat ($12.9-$13.5
million).
The Central Bank of Azerbaijan (CBA):
Azerbaijani banks predict a decrease in domestic mortgage
loans.
No significant change in demand for business loans is
expected.
The rise in deposit interest rates has had a favorable impact on
deposit volumes within banks.
The tightening of credit card issuance standards in Azerbaijan
remains ongoing.
The implications of fiscal expenditures and credit investments
on inflation are noted as warranting scrutiny.
The volume of transactions conducted by Azerbaijani banks on
Bloomberg has been disclosed.
Interest rates in the interbank money market have started to
influence deposit rates.
Last year, Azerbaijan’s strategic foreign exchange reserves
exceeded internationally accepted adequacy norms.
Azerbaijan and the World:
The Central Bank of Azerbaijan has become an observer member of
the Berlin Group’s Open Finance Working Group.
Ongoing and upcoming projects between Azerbaijan and the World
Bank were discussed.
Azerbaijan and China assessed investment opportunities across
various sectors.
A discussion on increasing mutual investments between Azerbaijan
and Croatia was held.
The Croatia-Azerbaijan Investment Forum took place.
The volume of direct investments from Iran to Azerbaijan was
disclosed.
The European Bank for Reconstruction and Development (EBRD)
forecasted stable growth in Azerbaijan for 2025.