Bank loans to Azerbaijan’s micro-enterprises climbed to 4.09 billion manats by the end of September 2026, up 19.7% over the year, the fastest growth rate among all business categories, according to the Central Bank of Azerbaijan.
The Central Bank of Azerbaijan (CBA) reported that lending to micro-entrepreneurship entities rose from 3 billion 418.1 million manats in September of the previous year to 4 billion 90.7 million manats. The increase amounted to 672.6 million manats, or 19.7%.
Loans to small businesses also grew over the same period, rising by 215.4 million manats, or 13.3%, from 1 billion 619.9 million manats to reach 1 billion 835.3 million manats. Lending to medium-sized enterprises expanded at a slower pace, up 104.6 million manats, or 4.6%, to 2 billion 354.8 million manats.
As a result, total outstanding loans to micro, small and medium-sized enterprises (MSMEs) rose from 7 billion 288.2 million manats to 8 billion 280.8 million manats, an increase of 992.6 million manats, or 13.6%.
Large businesses see faster credit growth
Lending to large business entities grew even faster over the same period, climbing 1 billion 902.9 million manats, or 23%, from 8 billion 256.4 million manats to 10 billion 159.3 million manats. The figures show that credit growth for large enterprises outpaced the overall MSME segment.
As a result, the share of micro, small and medium-sized businesses in banks’ total business lending fell from 46.9% in September 2025 to 44.9%. The share of large businesses rose in turn, from 53.1% to 55.1%.
By the end of September, total outstanding business loans in Azerbaijan’s banking system reached 18 billion 440 million manats, up 2 billion 895.4 million manats, or 18.6%, compared with the same period a year earlier.
