Fitch: Azerbaijan's credit expansion to remain restraint

In the short term, the pace of credit expansion in Azerbaijan will remain restrained, as economic activity has slowed after 2024, Maksim Maliutin, associate director, EMEA Bank Ratings at Fitch Ratings, said during the webinar "Fitch on the Caucasus: Sovereign and Banking Sector Perspectives for 2026," Report informs.

"Last year, credit growth slowed to approximately 10%, after reaching nearly 19% in 2024. This year, we forecast a figure of approximately 8%. Retail lending continues to outpace lending to the corporate sector and small and medium-sized businesses, reflecting robust consumer demand and banks' focus on high-yield products, while corporate borrowing remains cautious," Maliutin added.