BAKU, Azerbaijan, March 11. The number of transfers made from bank customers' current accounts through paper carriers and digital banking channels in 2024 reached 694.7 million units, with a total volume of 456.8 billion manat ($268.7 billion).
Data obtained by Trend from the Central Bank of Azerbaijan indicates that a significant portion of these transfers, 93.5 percent by number and 77.4 percent by volume, were conducted through digital banking services.
Meanwhile, transfers carried out through internet banking services in 2024 saw a 21 percent increase in volume, reaching 274.7 billion manat ($161.5 billion) compared to previous years. Similarly, transfers through mobile banking services grew by 38 percent, amounting to 63.9 billion manat ($37.5 billion).
The digital transformation of traditional banking services in Azerbaijan continues to grow at a rapid pace. As of January 1, 2025, all banks operating in the country, including Azerpocht LLC, offer internet banking services, while 20 banks, along with Azerpocht LLC, provide mobile banking services.