BAKU, Azerbaijan, June 23. The current volume of Azerbaijan's credit portfolio has reached 29.3 billion manat ($17.2 billion), marking a sharp increase in recent years, Zakir Nuriyev, President of the Azerbaijan Banks Association (ABA), said at the 1st International Conference on Credit Reporting, Trend reports.
“In 2024, the assets of the banking sector grew by 80 percent compared to 2018, reaching 53 billion manat ($31.1 billion). Over the past 7 years, our credit portfolio has increased by 125 percent and currently stands at 29.3 billion manat ($17.2 billion),” Nuriyev noted.
The official also pointed out that the volume of overdue loans had declined significantly.
“Compared to 2018, the amount of such loans has dropped by 72 percent, now totaling 449 million manat ($264.1 billion),” he said.
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