Provision of crediting in Azerbaijan’s economy rises by over 17%

As of February 1, 2023, the provision of crediting in Azerbaijan’s economy stood at 20.259 billion manats ($11.92 billion), up 0.4% from a month earlier, 17.5% from a year ago, Report informs, citing the Central Bank of Azerbaijan (CBA).

Some 15.753 billion manats ($9.27 billion), or 77.8% of the provision of crediting, fell to the share of private banks, which is 17.7% higher than in 2022.

The provision of crediting by the state-owned banks amounted to 3.916 billion manats ($2.30 billion), showing a 15.4% growth compared to a year earlier. The proportion of state-owned banks in the provision of crediting decreased to 19.7% from 19.3%.

As of the end of January, 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 2.7% to 2.9%.