Baku, Azerbaijan, April 12
By Azad Hasanli – Trend:
As of March 1, 2017, the Azerbaijani credit organizations' loans reached 15,878.6 million manat, which is by 21.9 percent less for the year and by 4.9 percent less for the month, the report of the Azerbaijani Central Bank (CBA) said.
Loans in Azerbaijan’s national currency prevail in the structure of the issued loans.
Around 52.6 percent (8,356.1 million manat) of all loans account for those loans. During the year, their volume decreased by 17.1 percent. The remaining funds are foreign currency loans (47.4 percent, or 7,522.5 million manat), their volume decreased by 26.5 percent compared to February 2016.
This ratio was 73 and 27 percent in early 2015. But the share of foreign currency loans began increasing, reaching 49.3 percent as of the year after the February devaluation of the manat.
However, Azerbaijan’s Financial Market Supervisory Authority established a moratorium on the issuance of consumer loans in foreign currency to the individuals who do not have foreign exchange earnings and bank deposits since April 2016 and imposed a ban on mortgage loans in foreign currency since May 2016.
In February 2017, the volume of overdue loans in Azerbaijani national currency reached 703 million manat, which is by 4.6 percent more compared to February 2016.
The share of overdue loans in Azerbaijani manat reached 4.4 percent of the loan portfolio of the country’s banks and non-banking credit organizations as of February 2017, the report said.
Overdue loans in foreign currency amounted to 853.4 million manat, which is by 29.8 percent more during the same period, and their share reached 5.37 percent.
In general, the total volume of overdue loans in Azerbaijan amounted to 1,556.4 million manat (17.1 percent more for the year). The share of those loans reached 9.8 percent.
As of late February 2017, the volume of short-term loans amounted to 3,354.1 million manat (including overdue loans worth 355.4 million manat), the volume of long term loans amounted to 12,524.4 million manat (including 1,201.1 million manat of overdue loans).
According to the CBA, the credit portfolio of the state banks in the country amounted to 4,311.5 million manat with a specific weight of 27.2 percent, while private banks issued loans worth 11,112.7 million manat with a specific weight of 70 percent, where 4,128.6 million manat falls to the share of banks with foreign capital. The remaining 2.9 percent falls to the share of non-bank credit organizations, which issued 454.4 million manat.