Fitch Ratings has assessed banking sector of Azerbaijan


July 23, Fineko/abc.az. International rating agency Fitch Ratings has announced about the situation in the banking sector of Azerbaijan.

Fitch reports that the domestic banking sector has been restructured, the level of lending to the private sector is growing and capitalization indicators are improving.

The Agency believes that the restructuring of the sector is underway, and the growth of lending to the private sector recovered up to 14.9% in 2018.

This May, capitalization grew up to 24.3% (19.4% by the end of 2018).

Fitch estimates that the net open currency position in the banking sector amounted to $1.1 bn (2.3% of GDP) by the end of 2018 that can lead to additional costs for the state.