Problem loans in Azerbaijan continue to grow
The Central Bank of Azerbaijan has published a statistical bulletin on the results of the first quarter of 2024.
According to the document, as of the end of March, overdue loans in Azerbaijan amounted to 470.8 million manats, which is up by 0.35% from the end of February.
Add that the amount of problem loans in the country rose by 7.5% as compared to the end of the last year, and declined by 20.3% over the past year.
A share of loans overdue as of April 1 in the total loan portfolio amounted to 1.9%. This rate was also 1.9% on March 1; 1.8% on January 1 and 2.9% on April 1 last year.
Finance
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The main reason for the sharp - 2.6 times as compared to the same period of 2023 - rise in foreign currency sold by the State Oil Fund (SOFAZ) in January-October 2024 is the needs of the state. Expert economist Rovshan Agaev said.
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The Central Bank of Azerbaijan has issued an official warning to the Baku Stock Exchange (BSE). This is reported on the CBA website.
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As of the end of June 2024, the 'Mortgage and Credit Guarantee Fund' had deposits in Azerbaijani banks in the amount of AZN 4.6 million. This is reported in the semi-annual financial statements of the Fund.
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The Central Bank of Azerbaijan (CBA) has issued a licence for currency exchange activity (‘Exchange’) to 'Money Shop' company.
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