What is happening in the Banking Sector in Azerbaijan?

What is happening in the Banking Sector in Azerbaijan? After closing the year of 2013 with a credit boom, the banking sector was unable to withstand the cold months of the current year: commercial banks almost halted all personal lines of credit. Despite the optimistic view of the Central Bank of Azerbaijan Republic regarding the general situation, the commercial banks have remained skeptical. After imposing loan restrictions, some of the banks even... Read More

Baku, the capital city, accounts for 93% of deposits of population

Baku, the capital city, accounts for 93% of deposits of population By results of 2012 Baku again became a leader in attraction of deposits by the banks.  According to a report of the Central Bank of Azerbaijan, the volume of banking deposits in the capital city as of 1 January 2013 made AZN 4,754,300,000 at the average rate of annual 8.5%. Deposits in national currency made  AZN 2,693,100,000 as of the beginning of the year in Baku, average rate-7.8%,... Read More