Credit investments in Azerbaijani economy grow 10.2%

Credit investments in the Azerbaijani economy as of September 1 of this year amounted to 30.464 billion manats, Report informs referring to the Central Bank of Azerbaijan (CBA).

This is a 0.7% increase compared to the previous month, a 4% increase compared to the beginning of the year, and a 10.2% increase compared to August 1 of last year.

Private banks accounted for 21.285 billion manats, or 69.9% of credit investments (an increase of 9.9% year-on-year).

As of the reporting date, credit investments by state-owned banks amounted to 7.419 billion manats (an increase of 10.5%). Over the year, the share of state-owned banks in total credit investments increased from 24.3% to 24.35%.

As of September 1, non-bank credit institutions (NBCIs) loan investments totaled 1.759 billion manats (up 11.8%). Over the year, NBCIs' share of total loan investments was 5.8%.

There are 22 banks operating in Azerbaijan, two of which are state-owned. There are 54 NBCIs.

(1$=1.7 AZN)