"Moody's": 62% of Azerbaijan's banking sector is under control of 4 banks

Baku. 24 May. REPORT.AZ/ At the end of 2017, the assets of the state-owned International Bank of Azerbaijan (OJSC) made 31% of the total assets of country’s bank sector.

Report informs, assistant vice-president of the organization, Petr Paklin said at the annual conference of Moody's international rating agency held in Baku.

According to him, this is 8% less compared to the end of 2016 year.

The most powerful private banks of the country- “PASHA Bank”, “Kapital Bank” and “Xalq Bank” own 31% of shares in assets of the country. While the remaining 26 banks control 28% of assets" he said.