Baku, Azerbaijan, June 13
By Anvar Mammadov - Trend:
Azerbaijani banks decreased the consumer lending volume to 7.19 billion manat in April 2016 or by 5.15 percent less than in March, said the Central Bank of Azerbaijan's report June 13.
The official exchange rate is 1.5114 AZN/USD as of June 13.
The consumer lending volume decreased by 12.32 percent for the year, while by 1.2 percent in April 2015.
The consumer lending volumes decreased in Azerbaijan after the first devaluation of the manat rate [the dollar rate increased by almost 34 percent February 21, 2015].
However, the largest part of the total loan portfolio of banks - 38.3 percent (as of April) accounts for the consumer loans.
The construction and real estate sector (15.2 percent or 2.85 billion manat) ranked second in the total loan portfolio of banks. The trade and services (14.3 percent or 2.68 billion manat) ranked third.
Around 6.4 percent was directed to the industry and production in January-April. In nominal terms it amounts to 1.21 billion manat.
The share of transport and communication hit 8.1 percent (1.51 billion manat), agriculture and processing reached 2.3 percent (432 million manat), energy, chemistry, and natural resources - 1.6 percent (296.3 million manat).
According to the CBA, as of May 2016, the banks issued loans worth 18.76 billion manat, including 9.72 billion manat (51.81 percent) - in the national currency, 9.04 billion manat (48.19 percent) - in freely convertible currency.
Some 37 banks operate in Azerbaijan (including two state-owned banks).
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