The situation with lending in Azerbaijani banks

In October 2024, the construction materials market in Baku experienced a significant price increase, averaging 5% compared to the previous month. This sharp rise contrasts with the modest 0.9% growth seen in September, indicating a spike in demand or supply constraints in the local market. The data for October shows broader inflationary pressure affecting key construction resources, along with diverse price trends across various material categories.

In October 2024, the average price of the consumer basket (CB) in Baku, which includes 30 essential food items of domestic production, compiled by Turan Agency, increased by 0.8%.

In October 2024, the situation with accepting deposits in 7 banks changed in Azerbaijan. Banks have revised the percentage of deposits placed in Azerbaijani manats and US dollars.

We present the rankings of commercial banks in Azerbaijan based on a comparison of financial performance for the third quarters of 2023 and 2024 (year-over-year dynamics). The rankings are compiled using the financial reports that banks publish on their websites.