Azerbaijan Banks Association expects annual sector growth of 11% to 12%

Azerbaijan’s banking sector could grow by 11% to 12% annually in 2026 and 2027, Azerbaijan Banks Association President Zakir Nuriyev told reporters on November 4, according to local media.

Nuriyev put sector assets at close to AZN 64 billion after the first nine months of 2026. The loan portfolio stood at about AZN 34 billion, including roughly AZN 18 billion in business loans.

Business lending grew by 18% year on year, compared with 13% for consumer credit, a difference of five percentage points. The growth forecast is the association’s assessment, not a central bank target.