Credit investments in Azerbaijan's economy rise nearly 9% in a year

Credit investments in Azerbaijan's economy reached 32.0025 billion manats as of March 1, marking an 8.8% increase compared with the same date last year.

Report informs, citing the Central Bank of Azerbaijan, that this figure is up 0.4% from the previous month and 0.2% since the start of the year.

Private banks accounted for the bulk of lending, holding 69.5% of total credit investments-22.2315 billion manats-up 9.1% year-on-year. State banks" lending reached 7.8873 billion manats, a 9.4% increase, raising their share of total lending to 24.6% from 24.5% a year ago.

Non-bank credit organizations (NBCOs) contributed 1.8837 billion manats, a 4% increase over the year, although their share of total credit fell from 6.2% to 5.9%.