Azerbaijani banks slightly expand branch network

Business Materials 12 July 2017 19:30

Baku, Azerbaijan, July 12

By Anvar Mammadov – Trend:

As of late May 2017, there were 560 branches and 141 departments of banks operating in Azerbaijan, according to the country’s banking sector review published by Azerbaijan’s Financial Market Supervisory Authority.

There were 560 branches and 140 departments of banks operating in Azerbaijan as of late April 2017.

During the reporting period, 31 banks operated in Azerbaijan, and two of them were state-owned ones. Sixteen 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.