Moody’s forecasts enhancement in centralization in Azerbaijan’s banking sector

As a result of processes in the financial market of Azerbaijan during the past three years, 3 banks – PASHA Bank, Kapital Bank and Xalg Bank - increased their share in the sector to 35%, Peter Paklin, Assistant Vice President at Moody's Investors Service, said at the annual conference of the Moody’s on Azerbaijan.

According to him, Azerbaijan’s banking sector has been operating on profit for three years, however, major part of the profit belonged to abovementioned banks and IBA.

"Other banks have been operating on loss for four years. Difference between the big banks and small banks will grow gradually," he added.