BAKU, Azerbaijan, February 3. The volume of business loans provided by banks in Azerbaijan for the construction sector reached 1.3 billion manat ($764.4 million) as of the end of 2024.
The data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that this figure represents an increase of 56.5 million manat ($33.2 million) or 4.3 percent compared to the end of 2023, when the volume of business loans for construction amounted to 1.3 billion manat ($764.4 million).
To note, the total business loan portfolio of banks operating in Azerbaijan during the reporting period reached 14.7 billion manat ($8.6 billion). This portfolio saw a growth of 17.2 percent, or 2.1 billion manat ($1.2 billion), compared to the previous year, with the volume standing at 12.6 billion manat ($7.4 billion) in 2023.
