Azerbaijani banks increase consumer lending by nearly 30%
Baku, Azerbaijan, May 9
By Anvar Mammadov - Trend:
Azerbaijani banks increased the consumer lending volume by 29.8 percent in January-March 2015 compared to the same period of 2014, said the Central Bank of Azerbaijan's report on the results of the first quarter of 2015.
The share of consumer loans in a total volume of the banks' loan investments amounted to 40.2 percent, or 8.3 billion manats (AZN). For comparison: their share accounted for 40.6 percent, and the amount of issued loans - 6.46 billion manats in January-March 2014.
The trade and services (14.3 percent or 2.95 billion manats) ranked second on the share in the total loan portfolio of banks. The construction and real estate sector (13.6 percent or 2.81 billion manats) ranked third.
Around 10.8 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 2.24 billion manats.
The share of transport and communication hit 4.2 percent (866.1 million manats), agriculture and processing reached 4.5 percent (932.3 million manats), energy, chemistry, and natural resources - 1.3 percent (267.9 million manats).
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