Only a few days are left until the end of 2025. This year's bank choices and which banks citizens prefer are among the noteworthy points.
Modern.az conducted a survey among individuals working in various fields regarding this matter.
Azer Badamov, Deputy Chairman of the Milli Majlis Committee on Economic Policy, Industry, and Entrepreneurship, stated in his declaration to our website that he uses ABB:
“Generally, the Central Bank determines the monetary policy in the country. From this perspective, I consider the strengthening of the manat's exchange rate against foreign currencies in 2025 to be a success of that policy. This year, there hasn't been a particular bank that I would distinguish for its superiority. The bank I use is the one where we receive our salary. I believe that the security measures in that bank are at a high level. However, I believe that since protecting the financial security of clients is a priority for all banks, similar measures are taken in other banks as well.”
Another member of the committee, Vugar Bayramov, also stated that he uses ABB's services:
“In developed countries, any bank is interested in supporting the activities of other banks. Because the bankruptcy of one bank leads to a loss of trust in others. In 2025, the banking sector generally maintained its stability. The main goal here was to reduce concentration in the banking sector and increase the number of systemically important banks. I also regularly use banks, including the International Bank of Azerbaijan, where I receive my salary. I have had no complaints about this bank's services. I am not in favor of naming and distinguishing banks. Because it is important for the banking sector as a whole to be strong. I believe that in 2026, the banking sector will be even stronger.”
Economist expert Akram Hasanov negatively assessed the activities of “Turan Bank” this year:
“Five years had passed since one of the citizens deposited savings in the bank. When he applied to the bank, they informed him that the documents had been discarded. However, the Central Bank has not set such a rule; it has only stated that deposits must be kept for at least 5 years. ‘Give us our deposit,’ we say, and they reply, ‘You have withdrawn the funds, no documents remain.’ The matter is currently in court, and a legal decision will be made. Otherwise, it implies that deposits cannot be kept in banks for more than 5 years.”
The expert also added that he currently uses the services of “Bank Respublika”:
“Bank Respublika is one of the largest banks in the country. There is no likelihood of large banks going bankrupt. Its advantage is that it is not a state-owned or state-affiliated bank. The service level in state banks is low because they are self-satisfied and have extensive customer bases. Even state-affiliated banks that are formally private are in the same situation. Bank Respublika, however, is the largest institution among truly private banks.”
Another economist expert, Khalid Karimli, stated:
“All banks adequately meet regulatory requirements, and currently there are no alarming banks in the sector. Reliable banks are systemically important, and the state would not allow them to collapse. Because if that were to happen, the entire system would collapse. The banks referred to as the ‘Big Four’ have large credit portfolios. The Deposit Insurance Fund insures deposits up to one hundred thousand manats. This also applies to current accounts and card balances. Therefore, there is no concern regarding the reliability of banks, and it is possible to keep funds up to one hundred thousand manats in each bank.
From a service perspective, it is more convenient to work with digitized banks that have a broad customer base. Although the banking sector is developing, competition is not at the desired level. Banks are still introducing good products gradually. Some provide opportunities for investment markets, others for cryptocurrency purchases. Although there are 21 banks, the opportunities are not the same.
By the end of 2025, there are no serious problems in banks. Those wishing to deposit savings or open accounts can easily place funds up to one hundred thousand manats. In the business sector, entrepreneurs should work with systemically important banks.”
Political scientist Natig Miri:
“The International Bank of Azerbaijan was chosen as the bank of the year. This is commendable. Unpleasant incidents that once occurred at ABB had a significant impact on the bank's image. However, changes made in leadership in recent years have yielded results. Today, the bank is among the leading institutions in terms of trust, service quality, and digitalization.
On the other hand, one of the most active banks, due to its new campaigns, is Kapital Bank. The vast majority of the population cooperates with Kapital Bank – in terms of pensions, salary cards, and deposits. These factors have increased the bank's reputation.
Birbank, however, provides people with the opportunity to obtain direct cash funds. Although this creates certain concerns in the digitalization and cashless payment process, overall, I would highlight Kapital Bank and ABB in the banking sector.”
Writer-journalist Mirmahmud Agaoglu:
“For me, all banks are the same, because none of them have given me a loan. I do not wish to state the reasons. Globally, banks consistently pay attention to culture. For example, in Turkey, there are YapıKredi and İş Bankası publishing houses. These publishing houses operate as separate entities from the banks and are widely recognized. This tradition is not widespread in Azerbaijan. Xalqbank's ‘People's Trust’ project has been doing interesting work for nearly 20 years. AccessBank is also trying to support culture this year. I choose banks that support culture, but personally, I don't choose any bank because none of them have given me a loan.”
Alihuseyn Yagubov, winner of the “Brand Teacher” award:
“This year, I have used Kapital Bank and Unibank. I have not experienced any serious problems. The main problem is the high interest rates on loans. Birbank's service is very good – it is more convenient because we can handle loan applications, transfers, and other operations ourselves. But the main problem is related to interest rates.”
Psychologist Elmir Akbar:
“Bank services should be more convenient and accessible. Some banks offer services that only the affluent can use. A shortage of staff in banks also leads to citizens losing time. In my loan applications to develop my education and profession, I was able to benefit from certain services of Bank of Baku. ABB had also offered a campaign related to loan transfers, but when I asked a question at the branch, I could not get a precise answer. Therefore, I remained with Bank of Baku.
Next year, I will again apply for certain services for professional development. Currently, I am interested in Xalqbank. Most likely, in 2026, I will choose between Bank of Baku and Xalqbank. I am not considering going to other banks. Often, what is stated in advertisements does not align with real services.
