Baku, Azerbaijan, Nov. 4
By Azad Hasanli - Trend:
Azerbaijani banks decreased the consumer lending volume by 1.2 percent up to 7.59 billion manat in September 2015 compared to August 2014, the Central Bank of Azerbaijan's report as of Jan.-Sept. 2015 said.
The consumer lending volume increased by 4.67 percent during the year.
The consumer lending volumes decreased after the devaluation of the manat rate [the dollar rate increased by almost 34 percent February 21].
It increased by almost 9 percent in February. The banks reduced the consumer lending volume by 1.4 percent in March, 1.2 percent in April, 1.88 percent in May, 1.97 percent in June and 1.5 percent in July.
The share of consumer loans in a total volume of the banks' loan investments decreased from 43 percent as of February up to 39.7 percent as of September.
The construction and real estate sector (14.3 percent or 2.728 billion manat) ranked second on the share in the total loan portfolio of banks.
The trade and services (12.7 percent or 2.435 billion manat) ranked third.
Around 10.3 percent of the total volume of lending to the real sector of Azerbaijan was directed to the industry and production. In nominal terms it amounts to 1.97 billion manat.
The share of transport and communication hit 5.3 percent (1.015 billion manat), agriculture and processing reached 4 percent (757.5 million manat), energy, chemistry, and natural resources - 0.9 percent (171.3 million manat).
According to the CBA, as of October 1, 2015, the total volume of loans granted by banks totaled 19.113 billion manat, including 10.683 billion manat (55.9 percent) - in national currency and 8.431 billion manat (44.1 percent ) - in freely convertible currency.
There are 43 banks in Azerbaijan (two of them are state-owned).
The official exchange rate is 1.0495 AZN/USD Nov. 4.