BAKU, Azerbaijan, October 10. Azerbaijan's banking sector is stable, the Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov said, Trend reports.
According to Kazimov, banks accounted for 96 percent of the financial sector, followed by four percent by insurance companies, non-bank credit organizations, and investment companies.
"The ratio of the non-functional loan portfolio to the total loan portfolio is 3.6 percent as of August. This figure was 21 percent in 2016. The loan portfolio of our banking sector is quite healthy. Considering the world experience, 3.6 percent is a fairly good indicator," said the CBA's chairman.