BAKU, Azerbaijan, February 1. The volume of consumer loans in Azerbaijan grew as of January 1, 2025.
The data obtained by Trend from the Central Bank of Azerbaijan shows that this number amounted to 8.4 billion manat ($4.92 billion), up 22.1 million manat ($13 million), or 0.3 percent, compared to the previous month, and 1.5 billion manat ($882 million), or 21.7 percent, compared to the beginning of 2024.
This means that the population's debt to banks in Azerbaijan grew by 22.1 million manat, or $13 million (0.3 percent) over the last month and by 1.5 billion manat, or $882 million (21.7 percent) over the last year.
Additionally, as of the first of January, 2025, the volume of mortgage loans settled at 4.2 billion manat ($2.47 billion), a hike of 46.9 million manat ($27.6 million), or 1.1 percent, in monthly terms, and 616.3 million manat ($362 million), or 17 percent, compared to the beginning of 2024.
To note, as of January 1, 2025, the banking loan portfolio in Azerbaijan increased by 0.4 percent, or 109.5 million manat ($64 million), reaching 27.5 billion manat ($16.14 billion).
Portfolio structure: business loans - 53.8 percent (14.7 billion manat, or $8.6 billion), consumer loans - 30.7 percent (8.4 billion manat, or $4.9 billion), mortgage loans - 15.5 percent (4.2 billion manat, or $2.4 billion).
Overall, in 2024, the banking loan portfolio increased by 4.3 billion manat ($2.5 billion) in absolute terms, including business loans - 2.1 billion manat ($1.27 billion), consumer loans - 1.5 billion manat ($889 million), and mortgage loans - 616.4 million manat ($362 million).
To note, the share of overdue loans in the total loan portfolio (including non-bank credit organizations and credit unions) decreased by 0.3 percentage points compared to the same period last year, reaching 1.5 percent.