Baku, Azerbaijan, July 26
By Kheyraddin Nasirzade – Trend:
Azerbaijan’s Expressbank at the end of the second quarter of this year increased lending to individuals compared to the same period last year by 45.5 percent, Trend reports referring to the bank’s financial report.
The bank’s volume of loans issued to individuals amounted to 148.868 million manats, which is 46.571 million manats more than in the second quarter of last year.
Regarding legal entities, the volume of loans issued to them decreased by 6.4 percent to 96.485 million manats. In the structure of loans issued to legal entities, the main share accounts for funds invested in industry, which amount to 44.623 million manats (46.2 percent).
The bank issued loans worth 31.358 million manats for the development of the construction sector, which makes 32.5 percent of the volume of loans of legal entities.
The remaining amount was distributed between the trade and services sector, as well as agriculture - 19.233 million manats and 1.051 million manats.
During the reporting period, the bank’s loan portfolio increased by 19.5 percent, reaching 245.354 million manats. The volume of loans issued in foreign currency amounted to 20.405 million in manat equivalent, which is almost 30 percent less than last year. Lending in national currency increased by 27.5 percent to 224.949 million manats.
($1= 1.7 manats on July 26)
---
Follow the author on Twitter: @1nasirzade
