Provision of crediting in Azerbaijan’s economy up by about 15%

As of May 1, 2023, the provision of crediting in Azerbaijan’s economy stood at 21.006 billion manats ($12.36 billion), up 1.76% from a month earlier, 4.1% from early 2023, and 14.7% from a year ago, Report informs, citing the Central Bank of Azerbaijan (CBA).

Some 16.307 billion manats ($9.59 billion), or 77.6% of the provision of crediting fell to the share of private banks, 14.5% higher than in 2022.

The provision of crediting by the state-owned banks amounted to 4.072 billion manats ($2.4 billion), showing a 13.2% growth compared to a year earlier. The proportion of state-owned banks in the provision of crediting dropped from 19.6% to 19.4%.

As of the end of April, the provision of crediting by the Non-Banking Credit Institutions (NBCIs) made up 626.3 million manats ($368.41 million), 30.6% more than in 2022. The share of the NBCIs in the provision of crediting rose from 2.6% to 3%.