Azerbaijani banks increase consumer lending by 21%
Baku, Azerbaijan, Mar. 6
By Azad Hasanli - Trend:
Azerbaijani banks increased the consumer lending volume by 21.5 percent in January 2015 compared to the same period of 2014, said the Central Bank of Azerbaijan's report on the results of January 2015.
The share of consumer loans in a total volume of the banks' loan investments amounted to 44 percent, or 7.724,1 billion manats (AZN). For comparison: their share accounted for 40.9 percent, and the amount of issued loans - 6.358,9 billion manats in January 2014.
The official exchange rate is 1.049 AZN/USD Mar. 6.
The trade and services (14.3 percent or 2.648,3 billion manats) ranked second on the share in the total loan portfolio of banks. The construction and real estate sector (13.7 percent or 2.548,1 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 2.007,1 billion manats.
For comparison: in January 2014 the share of lending to the industrial sector accounted for 11.9 percent of a total volume of funds transferred by the banks into the country's economy.
The share of transport and communication hit 3.9 percent (726.5 million manats), agriculture and processing reached 4.5 percent (842.5 million manats), energy, chemistry, and natural resources - 1.3 percent (235.7 million manats).
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