BAKU, Azerbaijan, March 29. As of February 29, 2024, the number of loans issued in Azerbaijan's capital and regions increased by 4.07 billion manat ($2.4 billion), or 20.63 percent, compared to the same period in 2023, amounting to 23.8 billion manat or $14.02 billion, Trend reports.
As per the Central Bank of Azerbaijan (CBA), Baku issued loans
of 18.34 billion manat ($10.78 billion) during the specified
period, which is 3.33 times the total volume of loans given across
the country.
Credits in national currency in Baku were 13.8 billion manats ($8.1
billion), accounting for 75.42 percent of overall lending in
Baku.
The country's average annual interest rate was 12.6 percent,
whereas in Baku, it was 11.14 percent.
Loan Distribution Table (as of February 29, 2024):
| Lending volume | Average interest rate, % | Total deposit share, % | |
| Azerbaijan | 23.8 billion ($4.02 billion) | 12.6 | 100 |
| Baku | 18.3 billion ($10.8 billion) | 11.14 | 76.96 |
| Economic areas, including: | 5.5 billion ($3.2 billion) | 23.04 | |
| Nakhchivan | 383.35 million ($226.09 million) | 13.62 | 1.61 |
| Absheron-Khizi | 865.3 million ($509 million) | 16.01 | 3.63 |
| Mountainous Shirvan | 162.1 million ($95.36 million) | 19.65 | 0.68 |
| Ganja-Dashkasan | 704.1 million ($414.2 million) | 16.85 | 2.95 |
| Karabakh | 409.7 million ($240.98 million) | 19.27 | 1.72 |
| Gazakh-Tovuz | 444.7 million ($261.58 million) | 18.47 | 1.87 |
| Guba-Khachmaz | 412.5 million ($242.67 million) | 17.11 | 1.73 |
| Lankaran-Astara | 552.85 million ($325.2 million) | 19.05 | 2.32 |
| Central Aran | 479.6 million ($282.1 million) | 18.60 | 2.01 |
| Mil-Mugan | 253.8 million ($149.3 million) | 18.90 | 1.07 |
| Shaki-Zagatala | 443.5 million ($260.9 million) | 16.73 | 1.86 |
| East Zangezur | - | - | - |
| Shirvan-Salyan | 379.46 million ($223.2 million) | 18.74 | 1.59 |
Meanwhile, the volume of loans issued in the capital and regions of Azerbaijan as of December 31, 2023, increased by 3.6 billion manat ($2.1 billion), or 18.31 percent, compared to the same period in 2022, amounting to 23.2 billion manat ($13.6 billion).