Central bank reports increase in demand for consumer, mortage loans

Azerbaijan has seen an increase in demand for consumer and mortage loans in the first three months of the year, according to the survey on lending activity held by the Central Bank of Azerbaijan.

Report informs that the main drivers of demand growth were the expectations of the real estate market, interest rates, as well as digitalization. In the first quarter, there was an increase in the level of household borrowing. Thus, according to the survey, 42% of banks noted no changes in household borrowing, 54% of banks noted a moderate increase in the level of household borrowing, and 4% of banks noted a moderate decrease.