CBA: 62% of Azerbaijani NBCIs' branches are in regions

Kanan Sadigov
Author

In Azerbaijan, 62% of the branch network of non-bank credit institutions (NBCIs) is located in the regions, Fuad Isayev, Executive Director of the Central Bank of Azerbaijan (CBA), said at the First Investor-Microfinance Forum held in Baku, Report informs.

Isayev noted that in this regard, NBCIs surpass banks.

The director further stated that foreign capital accounts for 39% of the charter capital of NBCIs.

Overall, 54 NBCIs currently operate in Azerbaijan. The microfinance sector is also represented by 35 credit unions.

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