Baku, Azerbaijan, Oct. 6
By Azad Hasanli – Trend:
Azerbaijan’s lending market is gradually recovering, Anar Hasanov, first deputy chairman of Azerbaijani AccessBank’s Management Board, said Oct. 6.
He made the remarks in Baku at the 5th Investors’ Fair, titled “Future of Micro-finance in Azerbaijan: Difficulties and Opportunities.”
“Over the past few months, in particular, since March 2017, revival in lending has been observed in Azerbaijan,” he noted. “For example, monthly number of loans issued by each of our bank’s specialists has increased from 8 to 23. This indicator is close to the pre-crisis level.”
He added that for the same period, that is, since March, the volume of each loan has grown 2.5 times.
“Government support to the agricultural sector also plays a special role in the development of lending,” Hasanov said. “For example, 52 percent of our loan portfolio accounted for the agricultural sector. That is, we see a trend of lending’s shifting from trade sphere to agriculture sphere.”