Bank lending in Azerbaijan decreases rapidly Investment
The Central Bank of Azerbaijan reported that the introduction of the floating exchange rate has led to the reduction of bank lending.
The CBA says that by 1 June 2016 the bank lending in Azerbaijan amounted to AZN 17.648 bn against AZN 18.209 bn by 1 May and AZN 21.16 bn (historical peak) by early 2016.
This year the bank lending has declined by 16.6%.
In 2015 the nominal growth of the bank lending grew by 17.4%, while the national currency depreciated by 199%.