Financial Services Report Azerbaijan

The Economist Intelligence Unit, November 2012, Pages: 17

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.

In recent years banks have begun to borrow from abroad in order to meet local demand for credit, although this remains well below the levels seen in Russia and Kazakhstan, countries that are large energy exporters in the Commonwealth of Independent States (CIS). 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 managers, Financial Services, Banks, Financial Services, Exchanges, Financial Services, Financial Services, Financial Services, Insurers
Industry Codes (NAIC): 52
Industry Codes (SIC): 60

Financial Services Report Azerbaijan

Market data: Financial services at a glance

Market data: Market opportunities

Market data: Key indicators

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
Political structure
Sovereign debt rating*

Fundamental indicators

Key contacts

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