BAKU, Azerbaijan, February 26. The volume of business loans issued by banks operating in Azerbaijan to the agricultural sector amounted to 1.77 billion manat ($1.05 billion) as of the end of January this year.
Data obtained by Trend from the Central Bank of Azerbaijan shows that this figure decreased by 10 million manat ($5.9 million) or 0.6 percent compared to the end of last year. At the end of 2024, the volume of business loans granted by banks in Azerbaijan to the agricultural sector was 1.78 billion manat ($1.06 billion).
To note, in the reporting month, the total loan portfolio of banks was 27.5 billion manat ($16.1 billion). Of this portfolio, 14.7 billion manat ($8.6 billion) accounted for business loans, 8.5 billion manat ($5 billion) for consumer loans, and 4.2 billion manat ($2.5 billion) for mortgage loans.
The volume of business loans increased by 1.8 billion manat ($1.06 billion) or 13.9 percent compared to the same period last year. By the end of the first month of 2024, the volume of business loans granted by banks in Azerbaijan was $12.9 billion.