How Azerbaijan is breaking out of the emerging market innovation trap
Most emerging market startup ecosystems are active but struggle to reach scale. Azerbaijan aims to escape that trap by building up real corporate demand.
Bank ABB (International Bank of Azerbaijan) is the largest bank and financial services group in Azerbaijan and the South Caucasus, based on its assets, customer base and international presence. Bank ABB plays a key role in maintaining the stability of Azerbaijan’s banking sector, promoting the country’s socio-economic growth and facilitating its integration into the global economy. The bank has 33,000 shareholders, with 92.18% of the shares owned by the State of Azerbaijan. With 85 service offices across the country, Bank ABB serves 18,000 corporate clients and 3 million individual customers and employs 4,000 staff members.
Most emerging market startup ecosystems are active but struggle to reach scale. Azerbaijan aims to escape that trap by building up real corporate demand.
Following the 2015 oil price crash, Azerbaijan put in place a comprehensive programme designed to shore up its economic resilience


