Against the Background of Increasing Stability of Consumer Crediting Business Loans Grow
With the continuing trend of citizens to obtain consumer credit increased the need for a banking support the development of entrepreneurial projects.
According to the Central Bank of Azerbaijan (CBA), surveys of financial institutions have identified the growth trend that is also reflected in the review of financial stability, as of April 1 of this year.
Recall that this trend reflects both the rate of increase in the budget of the National Fund for Entrepreneurship Support. According to official figures, the fund within 4 months of the year financed 1397 investment projects totaling 145.3 million manats. For the entire 2012 the fund, to finance 2400 investment projects, allocated 218 million manat.
With regard to consumer loans, they still depend on weak purchasing power. Thus, by April 1 credit portfolio of banks increased to 12 billion 606.2 million manat (1.7%). Growth was achieved at the expense of mortgage lending and lending through credit cards, they stated in the CBA. - 17D-
Economics
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