BAKU, Azerbaijan, February 3. The volume of business loans issued by Azerbaijani banks to the information and communication sector hit 635.9 million manat ($373.9 million) by the end of last year.
The data obtained by Trend from the country's central bank shows that this figure is 287 million manat ($168.7 million) or 82.3 percent more than the previous year's end. Thus, by the end of 2023, the volume of business loans granted by Azerbaijani banks to the information and communication sector totaled 348.9 million manat ($205.1 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.