Provision of crediting in Azerbaijan’s economy up by 16%

Kanan Sadigov
Author

As of November 1, 2023, the provision of crediting in Azerbaijan’s economy stood at 23,196.5 million manats ($13.64 billion), up 0.8% from a month earlier, 14.9% from early 2023, and 15.9% from a year ago, Report informs, citing the Central Bank of Azerbaijan (CBA).

Some 17.180 billion manats ($10.11 billion), or 74.1%, of the provision of crediting fell to the share of private banks, 10.1% higher than in 2022.

The provision of crediting by the state-owned banks amounted to 5.279 billion manats ($3.11 billion), showing a 36.7% growth compared to a year earlier. The proportion of state-owned banks in the provision of crediting rose from 19.3% to 22.8%.

As of the end of October, the provision of crediting by the Non-Banking Credit Institutions (NBCIs) made up 736.8 million manats ($433.41 million), 35.3% more than in 2022. The share of the NBCIs in the provision of crediting increased from 2.7% to 3.2%.

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