Absheron Retained Its Status as Region Most Filled with Banking Offices
The number of licensed bank branches in the Absheron economic region in the first half of this year increased by 17 units t* 382. At the same time, it retained the status of the region most filled with banking offices. It accounts for 56.5% of the total number of branches.
According t* the Central Bank of Azerbaijan (CBA) in the reporting period increased branches only five of the 10 economic regions of the country in three areas, this figure has not changed, and in tw* - have decreased.
In descending order of density of bank branches Absheron is followed by the Aran economic region - 95 (+3 t* the beginning of the year), Ganja-Gazakh economic region - 65 (-1), Lankaran economic region - 37 (+1), Guba-Khachmaz economic region - 36 (1), Sheki-Zagatala economic region - 29 (0), Shirvan economic region - 17 (+2), Nakhchivan economic region - 11 (0) Upper Karabakh economic region - 4 (0). There are n* bank branches in Kalbadjar-Lachin economic region.
As of July 1, 2013 the total number of bank branches totaled 676 units, an increase for the half year t* 21. - 15V-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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