Azerbaijani state banks sharply reduces crediting

Credit investments of state banks in the economy on annual basis grew by 5%

Baku. 17 November. REPORT.AZ/ Credit investments of the state banks in the economy made 6 384,8 million manats to October 1, 2015 in Azerbaijan. This figure reduced by 877 million manats or 12,1% in comparison with September 1 and increased 241 million manats or 3,9% than in the beginning of the year.

Report informs referring to the Central Bank of Azerbaijan Republic (CBAR), 323,1 million manats or 5,3% growth recorded in comparison with the analogical period of the previous year.

Crediting of private banks made 12 142,7 milion manats to October 1, 2015. This figure is 105,2 million manats or 0,9% less than in September 1. 269,1 million manats, or 2,3% increase recorded in comparison with the indicator to January 1, 074,9 million manats or 9,7% with the analogical period of previous year.

According to the CBAR's official statements, decrease of state banks' share in credit investments in the economy is related to the restructuring measures carried out in the International Bank of Azerbaijan Republic. 

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