Russia and CIS Payment Cards Yearbook

Azerbaijan - Summary

Azerbaijan Market Overview

  
Azerbaijan Payment Organizations AzeriCard, owned by International Bank of Azerbaijan; Milli Kart, owned by 18 small and mid-sized banks.
   
Azerbaijan Market Structure

Based on central bank figures, there were 4 million cards in Azerbaijan by end-2009, an increase of 11% on 2008 and equivalent to 0.45 cards per capita. About 70% of cards are Visa-branded.

State-controlled International Bank of Azerbaijan and the recently-privatized Kapital Bank are the dominant players.

Foreign bank investors, headed by Turkish banks and international organizations, are increasingly active.
   
Azerbaijan Major Issuers International Bank of Azerbaijan, Kapital Bank, Bank of Baku, Bank Standard, Unibank.
   

Azerbaijan Key Statistics 2009

  
Azerbaijan Population 8.9 million (provisional)
Azerbaijan Cards 4.0 million

 

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