BAKU, Azerbaijan, Aug. 27
By Eldar Janashvili – Trend:
The number of problem loans in Azerbaijan as of July 1, 2020, on an annual basis, decreased by 28.6 percent (420.9 million manats that’s $247.5 million), amounting to 1.06 billion manats ($620 million), Trend reports referring to the statistical bulletin of Central Bank of Azerbaijan (CBA).
The total loan portfolio of the banking sector and non-bank credit organizations increased by 6.6 percent, amounting to 14.5 billion manats ($8.5 billion).
The share of state banks in the issued loans amounted to 2.6 billion manats that’s $1.5 billion (17.9 percent of the total portfolio), the share of private banks - to 11.6 billion manats that’s $6.8 billion (79.5 percent), and the share of non-bank credit organizations - to 380.9 million manat that’s $224 million (2.6 percent).
The volume of loans issued in national currency as of late July 2020 amounted to 9.9 billion manats that’s $5.8 billion (an increase of 10.8 percent compared to July 2019), with the 68-percent share in the loan portfolio of banks.
Loans worth 4.6 billion in manat equivalent ($2.7 billion) were issued in foreign currency (a decline of 2.4 percent compared to June 2019) with a specific weight of 32 percent.
The short-term loans amounted to 1.7 billion manats in the national currency ($1.02 billion) and 759 million manats in foreign currency ($446 million). The long-term loans made up 8.1 billion manats ($4.7 billion) and 3.9 billion manats ($2.2 billion), respectively.
(1 USD = 1.7 AZN on Aug. 27)
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