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Azerbaijan sees decline in medium-sized business loans

Economy Materials 3 February 2025 23:17 (UTC +04:00)
Azerbaijan sees decline in medium-sized business loans

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Evez Hasanov
Evez Hasanov
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BAKU, Azerbaijan, February 3. Banks operating in Azerbaijan provided over 1.8 billion manat ($1 billion) in business loans to medium-sized enterprises by the end of 2024.

The data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that the volume of business loans allocated to medium-sized enterprises decreased by over 315.7 million manat ($185.6 million), or nearly 14.7 percent, compared to the previous year. By the end of 2023, the total volume of loans extended to SMEs was around 2.1 billion manat ($1.2 billion).

Moreover, the total business credit portfolio of banks in Azerbaijan by the end of 2024 reached around 14.7 billion manat ($8.6 billion), showing a 17.2 percent increase, or an additional 2.1 billion manat ($1.2 billion), compared to the previous year. This portfolio was valued at 12.6 billion manat ($7.4 billion) in 2023.

Notably, 4,150 medium-sized businesses were operating in Azerbaijan as of January 1, 2025.

The largest number of these businesses are engaged in trade and vehicle repair, with 1,423 such businesses, while the smallest number operate in other sectors, totaling 47.

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