11:57 - 9.06.2026
June 9, Fineko/abc.az. The total banking assets of the member countries of the Organization of Turkic States (OTS) approached $1.2 trillion.
ABC.AZ informs that Executive Director of the Center for Analysis of Economic Reforms & Communications Vusal Gasimli made the relevant statement at the X International Summit on Finance & Banking, held in Baku.
According to Gasimli, OTS countries’ overall GDP currently exceeds $2.1 trillion (nearly 3% of the global economy).
"Last year, the average economic growth rate in the organization's member countries exceeded 6%. The highest rate was recorded in Kyrgyzstan - more than 11%. In Uzbekistan, economic growth exceeded 7%, and in Kazakhstan it was more than 5%.
At the same time, the banking assets of the CIS countries made up only 0.8% of global banking assets. If we compare the volume of banking assets with GDP, it becomes obvious that the share of OTS in the global economy is about 4-fold higher than the share of banking assets of organization's member countries in the global banking system. This indicates significant potential for development of the financial and banking sector," Gasimli said.
He added that last year the total amount of savings in the OTS countries reached $670 billion.
"This figure corresponds to 2.3% of global savings. The gap between savings and bank assets indicates that there are additional opportunities to attract financial resources to the banking sector and deepen financial intermediation. In this regard, significant potential has been formed in the OTS countries for development of financial markets and further expansion of the banking sector," Gasimli stressed.
