Azerbaijan Sees Significant Decline in Borrowers
The number of active borrowers declined by 35.91% from FY2015 to FY2016. Much of the decline was attributed to large-scale financial service providers, while medium- and small-scale financial service providers reported growth during the same time period. The large-scale financial service providers experienced this decline in borrowers primarily due to their decision to stop lending in local currency, even as customer demand continued. The fluctuations in the value of manat compared to USD led financial service providers to increase their lending in USD.The Annual Benchmark Report offers a unique opportunity to analyze the performance of individual financial service providers and peer groups and to conduct country comparisons. Read the FY2016 Annual Benchmark Report for Azerbaijan.
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