Azerbaijan’s state banks increase share in lending

Lending in Azerbaijan’s economy as of January 1 this year amounted to 17.119 billion manats, Report informs referring to the Central Bank of Azerbaijan.

Compared to December 1 last year, this is 2.5% growth, compared to January 1 - by 17.8%.

The share of private banks accounted for 13.326 billion manats or 77.8% of loan investments. This is 17.1% more year-on-year.

During the reporting period, the volume of lending by state-owned banks amounted to 3.333 billion manats, which is 20% more than a year earlier. The share of state banks in lending increased from 19.1% to 19.5%.

At the end of December last year, lending to non-bank credit organizations (NCOs) amounted to 460.7 million manats, which is 23.4% more than in the previous year. The share of NCOs in lending increased from 2.6% to 2.7%.