Azerbaijani banks increase lending

As of July 1, 2021, credit investments in the Azerbaijani economy amounted to over 15.258 billion manats ($8.97 billion).

Report informs citing the Central Bank of Azerbaijan that this figure is 1.3% more compared to June 1. It is also increased by 5% since the beginning of the year and by 4.9% compared to the same period last year.

Private banks accounted for 11.974 billion manats ($7.04 billion) or 78.5% of credit investments. It shows 3.4% growth year on year.

The volume of lending by state banks as of the reporting date amounted to 2.882 billion manats ($1.69 billion), which is 11.5% more than a year ago. The share of state-owned banks in lending increased from 17.8% to 18.9%.

At the end of June, lendings by non-bank credit organizations amounted to 401.2 million manats ($236 million), which is 5.3% more than a year ago. These organizations share in lending was 2.6%.