80% of institutional investors in Azerbaijan are commercial banks

More than 90% of users in Azerbaijan's capital market are institutional investors, according to Talat Kalayev, Board Member of the Association of Azerbaijan Stock Market Participants Public Union, Report informs.

Kalayev made the remark during the panel titled "The Role of International Financial Institutions in Local Financial Markets" at the Azerbaijan Fixed Income Forum, jointly organized by the American Chamber of Commerce in Azerbaijan (AmCham) and the Baku Stock Exchange (BSE).

He noted that institutional investors are the primary participants in the capital market: "Over 90–95% of market users belong to this group."

Kalayev added: "In Azerbaijan, 80% of institutional investors are commercial banks, while the remaining 20% consist of insurance companies, state-affiliated funds, and a few small private funds."