Azerbaijan's financial sector grows 7% in 1H2026

In the first half of 2026, the assets of Azerbaijan's financial sector increased by 7% to 64.9 billion manats (just under $38.2 billion), equivalent to 50% of the country's gross domestic product (GDP), said Atakhan Hasanov, Director of the Financial Stability Department at the Central Bank of Azerbaijan (CBA), Report informs.

"The ratio of financial sector assets to non-oil GDP stood at 71%. Growth was recorded across all segments of the sector in January-June. However, the banking sector remains the main component. Bank assets account for 94% of total sector assets," he stated at a press conference dedicated to the CBA's semi-annual Financial Stability Report.

According to Hasanov, the international environment was favorable for Azerbaijan during the reporting period, the country's foreign trade surplus remained positive, and strategic foreign exchange reserves increased.

"The CBA, through its monetary policy and macroprudential policy measures, has supported economic resilience and the preservation of financial stability," he added.