Baku, Azerbaijan, July 18
By Kheyraddin Nasirzade - Trend:
Following the results of the first half of this year, Azerbaijan’s PASHA Bank reduced the volume of problem loans by 8 times, compared to the same period last year, Trend reports referring to the bank’s financial report.
According to the report, the volume of problem loans amounted to 24.346 million manats in late June, which is 1.7 percent of the bank’s loan portfolio.
In the structure of problem loans, funds issued in the agricultural sector constituted the main share, amounting to 10.098 million manats (41.5 percent). Moreover, their volume increased by 21.5 times over the year.
In the construction sector, the amount of overdue loans increased by 4.7 times, reaching 4.622 million manats, while problem loans in the area of processing decreased by almost 7 times to 2.623 million manats within a year.
In addition, the volume of overdue consumer and mortgage loans issued to natural persons increased by 4.5 times, reaching 2.71 million manats.
The remaining amount was distributed between areas such as transport, trade, non-production and service sectors, and other industries.
As indicated in the report, the loan portfolio during the reporting period increased by 35.2 percent, amounting to 1.402 billion manats.
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