Baku, Azerbaijan, Apr. 14
By Azad Hasanli – Trend:
In February 2017, Azerbaijani banks decreased the issuance of consumer loans by 28.6 percent to 5,528.6 billion manats compared to February 2016, said a report of the Central Bank of Azerbaijan (CBA).
The volume of consumer lending in Azerbaijan was gradually decreasing after the first devaluation of manat (the US dollar rate increased by almost 34 percent on Feb. 21, 2015).
The report said the biggest part of banks’ aggregate loan portfolio – 34.8 percent – accounted for consumer loans in February 2017.
Trade and services (14.6 percent or 2,313.4 billion manats) ranked second and the construction and real estate sector (12 percent or 1,910.8 billion manats) ranked third for their shares in the aggregate loan portfolio of the banks.
In February 2017, the share of loans for transportation and communication was 8 percent of total loans (1,269.7 billion manats), the share of loans for the industrial and production sector was 7.9 percent (1,256.9 billion manats) and the share of loans for agriculture and processing was 2.8 percent (449.3 million manats).
The share of loans directed for the development of the energy, chemistry and natural resources sector was 2.6 percent (416.1 million manats) in February 2017.
(1.7026 manats = $1 on Apr. 14)