Credit investments in Azerbaijan's economy grew by 9%

As of May 1 of this year, credit investments in Azerbaijan's economy amounted to 32 billion 631.8 million manats.

As reported by Report, citing the Central Bank of Azerbaijan, this is 1% more month-on-month, 2.1% more compared to the beginning of the year, and 9.1% more compared to May 1 of last year.

Private banks accounted for 22 billion 440.7 million manats, or 68.8% of credit investments. This is 8% more compared to the same period last year.

Credit investments of state banks amounted to 8 billion 168.5 million manats, which is 11.6% more year-on-year. Their share increased from 24.5% to 25%.

Non-bank credit organizations (NBCOs) accounted for 2 billion 22.6 million manats, which is 12.2% more over the year. Their share increased from 6% to 6.2%.

21 banks operate in Azerbaijan, of which 3 have state participation, as well as 52 NBCOs.