The money allocated for the restoration of the liberated territories is devoid of transparency

After several years during which many Azerbaijanis preferred to keep their money in cash, real estate, or consumer spending, bank deposits are once again returning to the center of household financial behavior. Rising inflation, the relative stability of the manat, and higher deposit yields are encouraging people to place more money into banks, while banks themselves are competing for customer funds almost as aggressively as they compete for borrowers.

PASHA Bank’s initial public offering was expected to become a landmark event for Azerbaijan’s financial market, with the country’s largest private bank offering investors the opportunity to purchase 5% of its shares for the first time. However, the decision to extend the subscription period by nearly two months showed that even a strong banking brand faces difficulties selling shares quickly in a market where investment culture is still developing.

Gold, traditionally viewed as a refuge during geopolitical crises, moved in the opposite direction in March as escalating tensions in the Middle East and surging oil prices triggered one of the sharpest corrections in the precious metals market in recent years.

Azerbaijan’s banking sector has expanded steadily over the past two decades, but structural imbalances in lending continue to constrain its role in driving broader economic development, according to recent data and analyst assessments.