Finance

Home page

Finance

Zakir Nuriyev: Share of cashless payments in card transactions approaches 70%

President of the Azerbaijan Banks Association (ABA) Zakir Nuriyev

09 June 2026 10:58 (UTC +04:00)

The total volume of transactions conducted with payment cards amounted to AZN 49.4 billion in the first four months of 2026, which is approximately 11% higher than in the same period last year, 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, the volume of cashless transactions carried out with cards increased from AZN 29.9 billion to AZN 34.5 billion over one year. As a result, the share of cashless payments in total card transactions rose from 67.1% to 69.9%.

He also noted that by the end of April 2026, the banking sector's deposit portfolio had exceeded AZN 37.8 billion, increasing by 2.8% year-on-year.

"Deposits of individuals demonstrated stronger dynamics, increasing by 18.7% and reaching AZN 17.3 billion. This indicator shows that public confidence in the banking system has been maintained and that banks' resource base has been further strengthened," he stressed.

Azerbaijan payment cards card transactions cashless payments Zakir Nuriyev Azerbaijan Banks Association ABA banking sector deposits individual deposits banking system financial sector digital payments banking statistics finance Baku International Finance and Banking Summit 2026 non-cash transactions economy banking industry