In the second quarter of this year, the long-term debt diffusion index of the population in Azerbaijan increased by four percentage points compared to the previous year and amounted to 23%.
The “Report” states that this is stated in the “Research on credit activity” of the Central Bank of Azerbaijan (CBA).
According to the information, this has increased by two percentage points compared to the first quarter.
According to the survey, 75% of the banks surveyed said there had been no change in the level of indebtedness of the population, and 25% said there had been a moderate increase.
It should be noted that the highest indicator of the long-term diffusion index of the population’s debt level was recorded in the second quarter of 2022 (29%).
It should be noted that as of August 1 this year, the amount of loans granted to the Azerbaijani economy amounted to 27 billion 268.5 billion manats. This is 1% more than in the month, 13.7% more than at the beginning of the year and 23.7% more than in the year.
Private banks accounted for 19 billion 058.3 million manats or 69.9% of credit investments. This is 13.9% more than a year ago.
As of the reporting date, state-owned banks’ credit investments amounted to 6.636 billion manats. This is 43.2% more than in the previous year.
At the end of July, non-bank credit institutions (NBC) issued loans worth 1 billion 573.8 million manats. This is 2.3 times more than in the previous year.
There are 22 banks operating in Azerbaijan, 2 of which are state-owned. The number of BOKTs is 55.
