BAKU, Azerbaijan, December 26. The largest share of loans issued to households in Azerbaijan as of November 30, 2023, amounted to 58.4 percent of the total volume of lending, Trend reports via the Central Bank of Azerbaijan (CBA).
According to CBA data, the volume of loans provided to households increased by 2.65 billion manat ($1.56 billion), or 23.83 percent, year on year (from 11 billion manat to 13.78 billion manat, or from $6.43 billion to $8 billion).
Simultaneously, lending in the commerce and services sector climbed by 221 million manat ($130 million), or 6.62 percent, to 3.56 billion manat ($2 billion) from 3.3 billion manat ($1.9 billion) previously. The trade and services sector accounted for 15.1 percent of overall lending volume.
Distribution of loan portfolio by economic sectors:
|
Loan volume, 2023 (as of November 30) |
Loan volume, 2022 (as of November 30) |
Share (%), 2023 |
Share (%), 2022 |
|
|
Trade and services |
3.56 billion manat ($2 billion) |
3.3 billion manat ($1.9 billion) |
15.1 |
16.5 |
|
Energy, chemistry, and natural resources |
743 million manat ($437 million) |
658 million manat ($387 million) |
3.1 |
3.3 |
|
Agriculture and processing |
538 million manat ($316 million) |
622 million manat ($365.88 million) |
2.3 |
3.1 |
|
Construction and property |
1.13 billion manat ($660 million) |
1.14 billion manat ($670 million) |
4.8 |
5.6 |
|
Industry and manufacturing sector |
1.16 billion manat ($680 million) |
1 billion manat ($588.2 million) |
4.9 |
5.3 |
|
Transportation and communication |
1.3 billion manat ($760 million) |
801 million manat ($471 million) |
5.6 |
4 |
|
Households |
13.78 billion manat ($8 billion) |
11 billion manat ($6 billion) |
58.4 |
55.1 |
Crediting of the real sector of Azerbaijan's economy for November 30, 2023 as a whole increased by 16.81 percent, or 3.39 billion manat ($1.99 billion) year-on-year, from 20.2 billion ($11.88 billion) to 23.6 billion manat ($13.88 billion).