15:29 - 29.11.2024

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November 29, Fineko/abc.az. In the 3rd quarter of 2024, credit standards were tightened in general for consumer loans, including credit cards.

ABC.AZ reports that this is stated in the results of a survey on lending to the activities of the Central Bank.

Banks reported a relaxation of lending standards for payday loans during the survey. Respondents predict that in the 4th quarter of this year, the easing of standards on payroll loans will continue and there will be no changes in credit card standards.

It was noted that according to the survey results, amid rising interest rates, demand for consumer loans as a whole decreased slightly. According to the respondents, the decrease was mainly due to credit cards.

Banks predict an increase in demand for credit cards, especially for general consumer loans, in the next quarter of 2024.

According to the survey results, bank's liquidity on consumer loans and the cost of financing had a tightening effect on lending standards. The change in consumer credit standards was mainly due to an increase in interest rates.