BAKU, Azerbaijan, June 19. Azerbaijani banks expect an increase in demand for business, consumer and mortgage loans in 2Q2023, Trend reports.
This is stated in the results of a survey on lending activities conducted by the Central Bank of Azerbaijan (CBA).
The CBA also concluded that the easing of the banks' credit policy continued in 1Q2023.
The trends towards a slowdown were observed both in business and in consumer portfolios compared to quarters of 2022. Banks slowed down on easing the short-term and national lending conditions on business loans, while also tightening the terms of lending in foreign currency, in 1Q2023.
“Banks believe that the trend towards easing credit standards for business and consumer portfolios will continue in 2Q2023. There were also noticeable trends towards a slowdown in the growth of demand for business and consumer loans in 1Q2023. On the contrary, there was an increase in demand for the mortgage portfolio," the CBA said.