BAKU, Azerbaijan, July 29. As of July 1 this year, Azerbaijan’s banking sector posted a net profit of 716.3 million manats ($421.4 million).
Calculations based on data from the Central Bank of Azerbaijan (CBA) show that this was an increase of 139.7 million manats ($82.2 million), or 24.2%, compared with the same period last year.
During the reporting period, banks generated operating profit of 1.09 billion manats ($639.1 million), up 23.3% year over year. In the first six months of 2026, banks also paid a total of 171.1 million manats ($100.6 million) in profit tax, an increase of 27.6% from a year earlier.
As of June 30, 2026, the 22 banks operating in Azerbaijan had 504 branches, 83 service offices, and 3,503 ATMs. During the reporting month, employment in the banking sector increased by 0.3%, or 88 employees, bringing the total workforce to 27,462.
Alongside the banking sector update, the Central Bank of Azerbaijan (CBA) outlined ongoing reforms and future priorities aimed at developing the country's capital markets.
In response to a query from Trend, the CBA said that, in line with the 2024–2026 Financial Sector Development Strategy, Azerbaijan plans to deepen its capital markets through the introduction of new financial instruments and digital solutions.
“The strategy identifies capital market development as one of the key priorities. It envisions building a sustainable market infrastructure, expanding market access, strengthening investor confidence, broadening the range of investment instruments, and enhancing regulatory and supervisory mechanisms. In line with the strategy, work is continuing on projects related to the introduction of alternative financial instruments, including securitization, derivatives and repo instruments, sukuk, venture capital, and crowdfunding,” the CBA said.
According to the regulator, key priorities in the near term also include expanding the participation of both institutional and retail investors, improving financial literacy, and advancing digital solutions and electronic trading capabilities.
“The automation of processes and the reduction of operating costs will expand investor access to the market while supporting greater depth and resilience in the capital market. The Central Bank views these initiatives as part of its long-term, systematic development strategy,” the CBA said.
