# Azerbaijan financial sector growth

> Live situation record from CLSTR: https://clstr.news/situations/azerbaijan-financial-sector-growth
> Updated: 2026-08-25T10:34:00.000Z. Sources: 2. Developments: 2.

Azerbaijan’s financial sector has demonstrated growth in both banking assets and sovereign reserves during 2026.

In the first half of the year, the nation’s deposit portfolio reached 39.4 billion manat, driven by an 8.5% increase in term deposits. While the number of payment card transactions rose by 9.6% year-on-year, the total transaction amount saw a 14.1% decrease. Additionally, the dollarization level of individual deposits fell to 27.9%.

By August 2026, banking sector assets reached $35.87 billion, marking a 9.5% increase from the previous year. This growth occurred alongside regulatory reforms by the Central Bank of Azerbaijan to modernize accounting and capital market legislation. Simultaneously, the State Oil Fund of Azerbaijan (SOFAZ) reported assets of $73.5 billion for the first quarter of 2026, with gold prices serving as a primary driver by accounting for 36% of the fund’s portfolio.

## Timeline

### 2026-08-25: Azerbaijan financial sector sees asset growth in banking and SOFAZ

Azerbaijan’s banking assets rose to $35.87 billion, while the State Oil Fund (SOFAZ) reached $73.5 billion in assets, bolstered by high gold prices and ongoing financial sector reforms.

2 sources. https://clstr.news/cluster/azerbaijan-financial-sector-sees-asset-growth-in-banking-and-sofaz

### 2026-08-10: Azerbaijan deposit portfolio reaches 39.4 billion manat

Azerbaijan's deposit portfolio reached 39.4 billion manat in H1 2026, while cashless card transactions saw a 9.6% increase in volume despite a decrease in total transaction value.

2 sources. https://clstr.news/cluster/azerbaijan-deposit-portfolio-reaches-394-billion-manat

---
Cite as: Azerbaijan financial sector growth. CLSTR, https://clstr.news/situations/azerbaijan-financial-sector-growth