Azerbaijan’s banking sector assets exceed $35. 8 billion
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…
EconomyMaterials29 July 2026 10:09 (UTC +04:00)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. Tags:Central Bank of Azerbaijan