(MENAFN- Trend News Agency) Details added: first version posted on 11:27
BAKU, Azerbaijan, May 5. Azerbaijan's financial
sector is rapidly developing, President of Azerbaijan Banks
Association (ABA) Zakir Nuriyev said during an event dedicated to
the 100th anniversary of national leader Heydar Aliyev, trend reports.
Nuriyev noted the important role of the banking sector for both
the population and businesses.
"Today, every citizen of our country can use the financial
instruments of banks and non-banking organizations of the country.
We don't see the need to apply to foreign banks for money or for
opening deposits. Our banks today are among the most stable ones in
the region," Nuriyev said.
The net profit of the banking sector as of March 31, 2023 in
Azerbaijan increased by 94 million manat ($55.2 million), or 54.05
percent compared to the same period in 2022 growing from 173.9
million manat ($102.2 million) to 267.9 million manat ($157.5
million).
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