BAKU: Assets of Non-Banking Credit Organizations (NBCOs) in Azerbaijan are projected to double by the end of 2025, as announced by Khayyam Ismayilov, the Head of the Credit Institutions Supervision Department at the Central Bank of Azerbaijan. The announcement was made during the “Innovative Solutions for Sustainable Microfinance” conference, emphasizing a strategic growth trajectory aimed at surpassing one billion manat.

According to Trend News Agency, Ismayilov highlighted that the current capital of NBCOs has reached 482 million manat, equivalent to $283.5 million. This growth is attributed to both the profits generated by these organizations and the entry of new participants into the market. Furthermore, the expansion of NBCO networks has been significant, with the number of branches in the microfinance sector now totaling 302.

Notably, the expansion of NBCOs in regional areas has been advantageous, in contrast to traditional banks. The sector currently employs 3,500 individuals and serves a client base
of 700,000. This growth reflects a positive trend in the microfinance sector, contributing to the broader financial landscape of Azerbaijan.