As of March 1, 2023, the provision of crediting in Azerbaijan’s economy stood at 20.347 billion manats ($11.97 billion), up 0.4% from a month earlier, 0.8% from early 2023, and 15.7% from a year ago, Report informs, citing the Central Bank of Azerbaijan (CBA).
Some 15.828 billion manats ($9.31 billion), or 77.8% of the provision of crediting fell to the share of private banks, 15.9% higher than in 2022.
The provision of crediting by the state-owned banks amounted to 3.929 billion manats ($2.31 billion), showing a 13.4% growth compared to a year earlier. The proportion of state-owned banks in the provision of crediting dropped from 19.7% to 19.3%.
As of the end of February, the provision of crediting by the Non-Banking Credit Institutions (NBCI) made up 589.6 million manats ($346.82 million), 28% more than in 2022. The share of the NBCIs in the provision of crediting rose from 2.6% to 2.9%.