In the IV quarter of 2022, standards for business loans granted by banks were relaxed.
Publika.az reports that although the softening was mainly for short-term and national currency business loans, softening was also observed in the terms of granting long-term loans.
Economist expert Rashad Hasanli told “Khazar Khabar” that after the pandemic, the increase in risks in the economic sphere also affected the credit policy of banks. However, towards the end of 2022, the changes in this direction were positive. The removal of a number of quarantine bans has led to the revival of activities in certain sectors within Azerbaijan. This is reflected in the credit policy of banks.
The expert said that the volume of business loans has increased by 1 billion compared to last year.
According to Rashad Hasanov, this difference between sectors shows that business loans are more needed in some areas. Crediting in such areas as construction, catering, transportation and organization of trade services began to expand relatively faster. Therefore, it is on the agenda that these types of loans can be given on more favorable terms.
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