Moody’s: Azerbaijan’s banking assets grow 11% annually since 2021

BAKU, Azerbaijan, October 22. Since 2021, total
assets of Azerbaijan’s banking system have increased at a compound
annual growth rate of 11%, says Moody’s.

“As of 29 September 2026, the Azerbaijan banking system
consisted of 21 banks. As of 31

August 2026, Azerbaijan's banking system reported total assets of
AZN62.5 billion. Since

2021, total assets have increased at a compound annual growth rate
of 11%,” reads the latest report on the International Bank of
Azerbaijan issued by the rating agency.

Moody’s recalls that as of 31 August 2026, Azerbaijan's banking
system reported total loans of 34.9 billion manat and net loans to
customers of 30.8 billion manat.

“Customer deposits was the largest

source of banking system funds, representing 67% of total
liabilities and equity, as of the

same date,” the report said.

Will be updated