Fuad Isayev: Credit portfolio of Azerbaijan’s medium-sized enterprises in banks grew by 46% over three years

Over the past three years, the credit portfolio of micro, small and medium-sized enterprises (MSMEs) in banks in Azerbaijan has increased by 46%, marking an average annual growth of more than 15%, Fuad Isayev, Executive Director of the Central Bank of Azerbaijan (CBA), said at the 1st National Financial Accessibility Forum, Report informs.

Isayev noted that in recent years, special measures have been implemented by the state for the development of MSMEs: "The guarantee mechanism applied to micro and small business entities, concessional loans and interest subsidy mechanisms play an important role in reducing credit risks.”

“Within this framework, certain relaxations have also been applied in regulatory adjustments by the Central Bank. By the end of 2024, the outstanding amount of loans provided to MSMEs by banks amounts to 6.5 billion manats (just over $3.8 billion),"

Isayev added that currently financial services are provided through 485 bank branches, 88 bank sub-branches, and 304 branches of non-bank credit organizations (NBCOs).