BAKU, Azerbaijan, May 16
By Zeyni Jafarov – Trend:
Lending to the Azerbaijani economy increased by 0.7 percent in March 2021, compared to February, Trend reports with reference to the monthly report of the World Bank (WB).
The consumer and mortgage lending has grown in Azerbaijan during the reporting period. At the same time, business lending remained at the same level.
In accordance with the report, lending to the Azerbaijani economy decreased by 5.8 percent in the first quarter of 2021, compared to the same period of last year.
The volume of problem loans in March amounted to 6.2 percent of the total loan portfolio of banks. The funds on deposits increased during the reporting period by 1.4 percent.
The net profit in banking sector in the first quarter declined by 10 percent year on year.
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