Baku, Azerbaijan, Feb. 6
By Azad Hasanli - Trend:
Azerbaijani banks increased the consumer lending volume by 24.4 percent in 2014 compared to the same period of 2013, the Central Bank of Azerbaijan's report on the results of 2014 said.
The share of consumer loans in a total volume of the banks' loan investments amounted to 44 percent, or 7.731,8 billion AZN. For comparison: their share accounted for 40.3 percent, and the amount of issued loans - 6.214,7 billion AZN in 2013.
The official exchange rate is 0.7844 AZN/USD Feb. 6.
The trade and services (14.5 percent or 2.680,7 billion AZN) ranked second on the share in the total loan portfolio of banks. The construction and real estate sector (13.8 percent or 2.555,1 billion AZN) ranked third.
Around 10.9 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 2.027,8 billion AZN.
The banks also increased lending to this sector in connection with the announcement of 2014 as the Year of Industry. For comparison: in 2013 the share of lending to the industrial sector accounted for 9.8 percent of a total volume of funds transferred by the banks into the country's economy.
The share of transport and communication hit 4 percent (736 million AZN), agriculture and processing reached 4.6 percent (847.3 million AZN), energy, chemistry, and natural resources - 1.1 percent (195.8 million AZN).
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