17:23 - 18.12.2023

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December 18, Fineko/abc.az. "Next year, the profitability of Azerbaijan's banking sector will remain stable and will be at the level of 2022."

ABC.AZ reports that this is stated in the forecasts of international credit rating agency S&P Global Ratings on the banking sector of Azerbaijan.

It was noted that the basis for stable profitability will be a new growth in lending with emphasis on retail products, normalization of the cost of risk and control of operating expenses.

At that, S&P believes that problem loans can grow from 3.5% to 4.0%-4.5% over the next 2 years. The agency added that in 2023-2024, loan losses will remain at the level of 1.0%-1.2% of the total portfolio.