Bank Of Baku

Jahangir Hajiyev: “The activity of 15-20 banks is enough in Azerbaijan”

Jahangir Hajiyev: “The activity of 15-20 banks is enough in Azerbaijan”
# 04 June 2011 11:10 (UTC +04:00)
Hajiyev said AIB formerly dominated in the country’s banking sector and it doesn’t aim to save its domination. Currently there are quite enough large banking organizations in Azerbaijan and the activity of 15-20 banks is enough as a result of consolidation of the banks in this market.

Hajiyev said the development of banking sector in the country is one of the priorities of AIB.

Currently 44 banking organizations operate in Azerbaijan and only AIB is in the state property.

AIB is the largest credit organization in Azerbaijan and the region. It was founded in 1992. 50.2% of shares in the bank’s registered capital are owned by the state, 40% is private property, 10% owned by the bank’s personnel.

Until April 1, 2011, AIB assets were AZN 4 696,638 million, credit portfolio AZN 2 879,706 million, including AZN 388,885 million of consumption loans, deposit portfolio AZN 1 911,060 million.
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