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

As of October 1, 2023, the provision of crediting in Azerbaijan’s economy stood at 23,018.6 million manats ($13.54 billion), up 2.4% from a month earlier, 14% from early 2023, and 16.8% from a year ago, Report informs, citing the Central Bank of Azerbaijan (CBA).

Some 17.358 billion manats ($10.21 billion), or 75.4%, of the provision of crediting fell to the share of private banks, 13.2% higher than in 2022.

The provision of crediting by the state-owned banks amounted to 4.924 billion manats ($2.9 billion), showing a 28.9% growth compared to a year earlier. The proportion of state-owned banks in the provision of crediting rose from 19.4% to 21.4%.

As of the end of September, the provision of crediting by the Non-Banking Credit Institutions (NBCIs) made up 736.8 million manats ($433.41 million), 35.3% more than in 2022. The share of the NBCIs in the provision of crediting increased from 2.8% to 3.2%.