BAKU, Azerbaijan, Dec.1
By Zeyni Jafarov - Trend:
The loan client portfolio amounted to 14.4 billion manat ($8.5 billion) in the Azerbaijani banking sector from January through October 2020, while the country's banks completed 2019 with a loan portfolio worth 14.9 billion manat ($8.8 billion), Trend reports referring to the financial report of the Central Bank of Azerbaijan (CBA).
The total loan portfolio of the country's banking sector decreased by 3.3 percent or by 491.6 million manat ($289.2 million) since the beginning of the year.
In accordance with the CBA report, the largest part (60.2 percent) accounted for the business loans in the structure of the loan portfolio of Azerbaijani banks, the volume of which decreased by 3.9 percent (by 351.8 million manat or $206.9 million), making up 8.68 billion manat ($5.1 billion).
In terms of share, the volume of entrepreneur loans dipped by 0.4 percentage points.
Some 26 percent of all loans in the Azerbaijani banking sector accounted for consumer loans and their volume also decreased by 8.1 percent (by 328.6 million manat or $193.3 million) and amounted to 3.7 billion manat ($2.2 billion).
The share of consumer loans lowered by 1.3 percent.
The remaining 13.8 percent of all loans accounted for mortgage loans, the share of which grew by 1.8 percentage points.
The volume of mortgage loans in absolute terms also increased by 10.5 percent (by 188.8 million manat that’s $111.06 million) and amounted to 1.98 billion manat ($1.16 billion) over the past 10 months of 2020.
(1 USD = 1.7 AZN on Dec.1)
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