BAKU, Azerbaijan, March 29. Azerbaijani banks' loan portfolio climbed by 20.63 percent as of February 29, 2024, compared to the same time in 2023, reaching 23.8 billion manats ($13.9 billion), Trend reports.
According to the Central Bank of Azerbaijan, as of February 28,
2023, Azerbaijani banks' loan portfolio was 19.7 billion manat
($11.5 billion).
In the structure of banks' loan portfolio, business loans accounted
for 54.81 percent (13 billion manat ($7.6 billion), consumer loans
for 29.69 percent (7 billion manat ($4.1 billion), and mortgage
loans for 15.49 percent (3.6 billion manat ($2.1 billion), with
year-on-year growth of 20.73 percent.
Note that the loan portfolio of Azerbaijani banks expanded by 18.32
percent between December 31, 2022, and December 31, 2023, reaching
23.1 billion manat ($13.5 billion).
Meanwhile, as of December 31, 2023, the total assets of banks in Azerbaijan exceeded 49.1 billion manat ($28.8 billion), total liabilities were 43.1 billion manat ($25.3 billion), and total capital was 6 billion manat ($3.5 billion). Based on the data of the Central Bank of Azerbaijan, compared to the same period in 2022, assets, liabilities, and capital of the banking sector increased by 4.5 percent, 4.1 percent, and 7.8 percent, respectively.
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