BAKU, Azerbaijan, April 20. The loan portfolio of Azerbaijani banks increased as of March 31, 2023, Trend reports via the Central Bank of Azerbaijan (CBA).
According to the bank, this figure reached 20.03 billion manat ($11.78 billion), which is 14.32 percent more than as of March 31 last year (17.5 billion manat or $10.29 billion).
As of March 31, 2023, out of total loans, business loans accounted for 54.75 percent (10.97 billion manat or $6.45 billion), which is year-over-year growth of 7.75 percent.
Furthermore, consumer loans accounted for 29.65 percent or 5.9 billion manat ($3.4 billion), increasing by 23 percent, and mortgage loans made up 15.59 percent of the total loans (3.1 billion manat or $1.8 billion), up by 24.27 percent over the year.
The total assets of banks as of March 31 this year equaled 44.8 billion manat ($26.3 billion), while the total liabilities - 38.9 billion manat ($22.8 billion).