BAKU, Azerbaijan, March 31. The loan portfolio of Azerbaijani banks increased by 15.36 percent as of February 28, 2023, compared to the same period in 2022, reaching 19.7 billion manat ($11.5 billion), Trend reports via the Central Bank of Azerbaijan (CBA).
According to the bank, the loan portfolio of the banks of Azerbaijan amounted to 17.1 billion manat ($10.05 billion) at the beginning of March 2022.
As of February 28, 2023, out of total loans, business credits accounted for 54.84 percent (10.83 billion manat or $6.3 billion), which is 8.65 percent more year-over-year. Furthermore, consumer loans accounted for 29.68 percent or 5.8 billion manat ($3.4 billion), increasing by 24.68 percent, and the mortgage loans compiled 15.48 percent of the total loans (3.05 billion manat or $1.7 billion), up by 24.26 percent over the year.
The total assets of banks as of February 28, 2023, equaled 45.7 billion manat ($26.8 billion), while the total liabilities - 39.9 billion manat ($23.4 billion).