Volume of business loans nears AZN 10B in Azerbaijan

As of March 1, the banking sector of Azerbaijan issued over 9.97 million manats of business loans, 16.9% more than a year earlier, Report informs, citing the Central Bank of Azerbaijan.

According to the bank, the share of business loans in the total loan portfolio of banks is 58.2%.

During the reporting period, consumer loans increased by 29.1% to 4.69 billion manats, and mortgage loans increased by 18.3% to 2.46 billion manats.

The total volume of loans issued to customers in the banking sector amounted to over 17.126 billion manats, 2.1% more than a month ago.

This figure shows a 2.8% increase when compared to the data of January 1, 2022, and a 20.2% hike when compared to the data of March 1, 2021.

There are 26 banks in Azerbaijan.