12:35 - 14.02.2025

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February 14, Fineko/abc.az. The amendments to the rules governing non-bank credit organizations (NBKOs) in Azerbaijan will create conditions for development of new financial products in Azerbaijan.

ABC.AZ reports, quoting Jalal Aliyev, chairman of the Supervisory Board of the Azerbaijan Microfinance Association, as saying this at the Azerbaijan Financial Forum.

According to Aliyev, NBCOs’ assets reached 1 billion manats by the end of 2024 (3-fold more against 2020 and 24% more than last year).

“Further growth is expected in 2025 due to Central Bank’s new rules aimed at supporting development of credit institutions. In addition, the authorized capital of the NBCOs increased from 141.4 million manats in 2020 up to 456.4 million manats by the end of 2024. The net profit of the sector amounted to 231 million manats, and the total volume of loans issued exceeded 800 million manats,” Aliyev said.