The level of dollarization of the deposit portfolio in Azerbaijan's banking sector has declined to 35.7%, while the dollarization level of savings has fallen to 30.2%, President of the Azerbaijan Banks Association (ABA) Zakir Nuriyev said during his speech at the International Finance and Banking Summit 2026 held in Baku, APA-Economics reports.
According to him, this tendency indicates growing confidence in both the national currency and the banking sector.
"The aggregate capital of banks has also increased by 9.7% to reach 7.7 billion manats, which confirms the strengthening of the sector's financial stability," he noted.
He added that as of the end of April this year, the assets of Azerbaijan's banking sector increased by 5% compared to the corresponding period of last year, reaching 57.4 billion manats.
According to him, the growth in assets indicates an expansion of the banking sector's financial capacity and a strengthening of its intermediary role in the economy.
Z. Nuriyev noted that the banking sector's loan portfolio also recorded growth. Thus, the total loan portfolio increased by 8.9% year-on-year to reach 36 billion manats. The volume of business loans amounted to 16.3 billion manats.
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