As of March 1 of this year, the volume of loans granted by banks to legal entities operating in the real estate sector in Azerbaijan (excluding non-bank credit organizations and overdue loans) amounted to 44 million manats.
“Elchi” reports this with reference to the Central Bank.
According to the information, this figure is 47.5% or 39.9 million manats less compared to the same period last year. On a monthly basis, the amount of loans increased by 60% or 16.5 million manats.
It should be noted that as of March 1 of the current year, the total credit investment in the real sector in Azerbaijan amounted to 32 billion 2.5 million manats, which is an increase of 0.4% on a monthly basis and nearly 9% on an annual basis.