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Financial Services Report Azerbaijan

  • ID: 2139177
  • October 2015
  • Region: Azerbaijan
  • 20 Pages
  • The Economist Intelligence Unit
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Azerbaijan's financial sector was little affected by the global financial and economic crisis, as the country's commercial banks are not well integrated into global capital markets. The bond market is shallow and illiquid. Uptake of other financial products, such as insurance, has increased in recent years, but remains largely focused on the middle class in Baku, the capital.

The banking sector is uncompetitive, fragmented, poorly developed and suffers from poor corporate governance. Lending is low as a share of GDP and the banking sector plays only a marginal intermediation role in the economy. Lending is overwhelmingly focused in Baku, and is largely directed towards established medium and large enterprises.

The outlook for the banking sector in the near term is poor. A devaluation of the manat in February 2015 has increased the cost of foreign liabilities and has led to a domestic-currency liquidity squeeze.

Industry List: Asset management, Financial Services, Banking, Financial Services, Financial markets and instruments, Financial Services, Financial regulation, Financial Services, Financial Services, Financial Services, Insurance
Industry Codes (NAIC): 52
Industry Codes (SIC): 60

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Financial Services Report Azerbaijan

Financial services report
Overview

Banks

Insurers

Asset managers

Financial markets and instruments

Financial regulation
Overview
Regulatory watchlist

Monetary and currency policy: Monetary policy

Monetary and currency policy: Exchange rates

Azerbaijan at a glance

Fundamental indicators

Key contacts

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Note: Product cover images may vary from those shown

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