Azerbaijani banks slightly expand branch networks
Baku, Azerbaijan, June 3
By Anvar Mammadov – Trend:
As of late April 2017, there were 560 branches and 140 departments of banks operating in Azerbaijan, according to the country’s banking sector review published by the Financial Market Supervisory Authority of Azerbaijan.
For comparison, there were 561 branches and 137 departments of banks operating in Azerbaijan as of late March 2017.
During the reporting period, 32 banks operated in Azerbaijan, and two of them were state-owned ones. Exactly half of the banks have foreign capital. In seven of them, the share of foreign stakeholders exceeds 50 percent of the bank’s authorized capital. There are two branches of foreign banks (Bank Melli Iran and the National Bank of Pakistan) operating in Azerbaijan.