Azerbaijan

billion USD of

GDP

BBB-

Fitch rating

Good safety

100%

of per-bank

Deposit Guarantee

million of

Population

2.49%

percent of

Inflation

/ 190

index points of

Doing Business

Financial indicators

billion USD of

GDP

BBB-

Fitch rating

Good safety

100%

of per-bank

Deposit Guarantee

million of

Population

2.49%

percent of

Inflation

/ 190

index points of

Doing Business
Azerbaijan

Financial sector


Azerbaijan economic growth rate in 2017 was 0.1% and the non-oil economy increased by 2.7%. Inflation was 12.9% in 2017. 30 banks operate in the market in 2018, of which two are state-owned and 28 are private banks. The share of foreign capital in eight out of 15 foreign capital banks is over 50 percent. Two of these banks are local branches of foreign banks. Azerbaijan banking sector continued to capitalise: the total capital of the sector increased by 52% in 2017 amounting to €1.8 billion (16% of banking sector liabilities). Due to the decrease in bank deposits placed by the financial sector in 2017, about a 7% decrease was observed in the banking sector’s deposit base, but household savings and non-financial organisations deposits rose by 1.5% and 22% respectively.

Deposit Guarantee Scheme is covered by Azerbaijan Deposit Insurance Fund up to 100% deposit value per depositor per bank. Learn more
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