BAKU, Azerbaijan, July 29. As of July 1 this
year, the assets of Azerbaijan’s banking sector totaled 60.94
billion manats ($35.85 billion).
Calculations based on data from the Central Bank of Azerbaijan
(CBA) show that this represents an increase of 4.21 billion manats
($2.47 billion), or 7.4%, compared with July 1 of last year.
During the reporting period, banks' total liabilities stood at
53.29 billion manats ($31.35 billion), while total equity reached
7.65 billion manats ($4.50 billion). In June alone, total banking
sector assets increased by 3%, liabilities by 3.3%, and equity by
1%.
Amid the sector’s growth, the Central Bank of Azerbaijan also
highlighted the results of reforms aimed at strengthening the
resilience of the country’s financial system.
Speaking at the 20th Global Forum on Islamic Finance, held as
part of the Islamic Development Bank (IsDB) Group’s Annual Meetings
in Baku, Shahin Mahmudzade, Director General of the Central Bank of
Azerbaijan, outlined the progress made in recent years.
“Over the past three years, we have modernized the regulatory
framework for the banking sector not only in traditional areas such
as the transition to the latest accounting standards, but also in
market conduct, ESG, and other emerging fields. We have also
introduced a number of amendments to capital market legislation.
Draft laws on credit rating agencies, derivatives, venture capital,
crowdfunding, and several other areas have been prepared and
submitted to the government,” Mahmudzade said.
As of June 30, 2026, the 22 banks operating in Azerbaijan had
504 branches, 83 service offices, and 3,503 ATMs. During the
reporting month, banking sector employment increased by 0.3%, or 88
employees, bringing the total workforce to 27,462.
