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    Rating: Azerbaijan's banking sector takes 4th place in ranking of CIS

    The first three are Russia, Kazakhstan and Ukraine

    Baku. 2 October. REPORT.AZ/ Azerbaijan's banking sector occupies 4th place in ranking of CIS countries

    Report informs, the rating agency "RIA Rating", part of media group MIA "Russia Today", held a regular survey of the banking sector of the CIS countries, which resulted in the rating of 200 largest banks.As before, the most strongly represented Russian banks (60.5%), followed by Kazakhstan (10.5%), Ukrainian (9.5%) and Azerbaijani (5%).

    At the end of 2014, Russia lost in the rating of 8 banks, and is now represented by 122 banks, the number of Ukrainian banks has decreased from 27 to 18.

    Experts believe that reducing the number of banks in Russia and Ukraine is connected with the devaluation of the national currencies of these countries.

    Thus, the US dollar against the ruble rose by 72%, and the Ukrainian hryvnia - nearly 2 times.

    Overall, at the end of 2014, total assets of the banking systems of the CIS countries decreased by 21.3% to 1.7 trillion dollars.

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