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

As of September 1, 2023, the provision of crediting in Azerbaijan’s economy stood at 22.484 billion manats ($13.22 billion), up 2% from a month earlier, 11.4% from early 2023, and 17.5% from a year ago, Report informs, citing the Central Bank of Azerbaijan (CBA).

Some 17.06 billion manats ($10.03 billion), or 75.9%, of the provision of crediting fell to the share of private banks, 15% higher than in 2022.

The provision of crediting by the state-owned banks amounted to 4.754 billion manats ($2.8 billion), showing a 24.8% growth compared to a year earlier. The proportion of state-owned banks in the provision of crediting rose from 19.9% to 21.1%.

As of the end of August, the provision of crediting by the Non-Banking Credit Institutions (NBCIs) made up 669.9 million manats ($394.04 million), 34.5% more than in 2022. The share of the NBCIs in the provision of crediting increased from 2.6% to 3%.