Republic of Azerbaijan: Financial Sector Assessment Program-Financial System Stability Assessment
Republic of Azerbaijan: Financial Sector Assessment Program-Financial System Stability Assessment
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Volume/Issue:
Volume 2025
Issue 099
Publication date: April 2025
ISBN: 9798229008754
$20.00
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Topics covered in this book
This title contains information about the following subjects.
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Banks and Banking , Finance , Economics- Macroeconomics , Money and Monetary Policy , Business and Financial , Financial sector stability , Macroprudential policy , Loans , Credit , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Financial Sector Assessment Program , Nonperforming loans , Commercial banks , Capital adequacy requirements
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Summary
Azerbaijan’s economy has recovered from two downturns prompted by the collapse of global oil prices in 2015 and COVID-19 pandemic in 2020. Since the previous FSAP in 2015, the financial soundness of its bank-dominated financial sector has improved significantly, enhancing its resilience amid recent global uncertainties. Indeed, the transfer of financial sector regulation back to the Central Bank of Azerbaijan (CBA) in 2019 has revitalized the regulatory reform agenda. Nonperforming loans have declined, and banks’ profitability has surpassed pre-pandemic levels. With government support, the largest state-owned bank—International Bank of Azerbaijan—has recovered from its 2015 distress. Nonbank financial intermediation (⅓ of financial system assets) is largely dominated by state-owned specialized institutions.
