The World Bank experts think that Azerbaijani banking sector does not correspond to the volumes of country economy.

Mediamax reports quoting Trend that the WB Partnership Strategy with Azerbaijan for 2007-2010 reads this.

At present, there are 44 banks functioning in Azerbaijan, 18 of which - with participation of foreign capital, and two branches of foreign banks.

As the WB report reads, the International Bank of Azerbaijan (IBA) owns 49% of the assets of all the banking system of the country. The WB experts think that the dominance of the IBA should be reduced in conditions of improvement of business atmosphere and the ability of the banking sector to stand the international competition.