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Financial Services Report Azerbaijan Product Image

Financial Services Report Azerbaijan

  • Published: November 2013
  • Region: Azerbaijan
  • 17 Pages
  • The Economist Intelligence Unit

The impact of the global financial and economic crisis on Azerbaijan's banking sector has been fairly limited as the country's commercial banks are not well integrated into global capital markets. Following weak performance in 2012, profitability and return on equity improved in the first half of 2013.

Despite strong growth and exchange-rate stability, foreign borrowing by Azerbaijani banks is far lower than that in Russia and Kazakhstan, countries that are large energy exporters in the Commonwealth of Independent States (CIS). Foreign borrowing by Azerbaijani banks has declined as a share of total liabilities in the past two years. A lack of business opportunities in Azerbaijan outside the oil and gas sector will also constrain demand for new borrowing over the forecast period.

The banking sector had been growing rapidly, albeit from a low base, as the oil-related economic boom drove demand for credit among households and businesses until mid-2008. Nonetheless, the banking sector is still underdeveloped, remains small as a share of GDP and plays only a marginal intermediation role in the economy.

Industry List: Asset management, Financial Services, Banking, Financial READ MORE >

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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