BAKU, Azerbaijan, April 23. Looking at the data from 2024 and the past three years, Azerbaijan’s banking sector has seen its loan portfolio expand by over 15 percent, said Taleh Kazimov, Governor of the Central Bank of Azerbaijan (CBA), at a press conference held today regarding the parameters of the interest rate corridor, Trend reports.
“Over the past three years, our loan portfolio in all sectors—business, consumer, mortgage, and microfinance—has grown at twice the rate of economic growth.
I strongly disagree with the notion that banks are not supporting businesses. Last year alone, banks issued 17.5 percent of loans to the business sector. Even more was allocated to microfinance. In total, our loan portfolio exceeds 18 percent.
The banking sector remains very active in lending, even though rates have risen over the past 6-9 months," Kazimov added.
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