Baku, Azerbaijan, Aug. 10
By Anvar Mammadov – Trend:
As of early July 2017, the Azerbaijani credit organizations’ loans totaled 13.88 billion manats, which is by 24.7 percent less as compared to the same period of 2016, the report of the Azerbaijani Central Bank (CBA) said.
The volume of loans, issued by the Azerbaijani credit organizations, decreased by 6.2 percent compared to early June 2017, said the report.
Loans in Azerbaijan’s national currency, the manat, prevail in the structure of the issued loans.
Some 57.3 percent (7.96 billion manats) of all loans account for those loans. Their volume decreased by 16.8 percent during the year. Foreign currency loans account for 42.7 percent or 5.92 billion manats. Their volume decreased by 33.2 percent as compared to late June 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 late June 2017, the volume of overdue loans in Azerbaijani national currency reached 917.3 million manats, which is by 17.8 percent more as compared to the same period of 2016.
The share of overdue loans in Azerbaijani manats reached 6.6 percent of the loan portfolio of the country’s banks and non-banking credit organizations as of January-June 2017, the report said.
In June 2017, overdue loans in foreign currency amounted to 893.4 million manats, which is by 17.4 percent more as compared to the same period of 2016, and the share of these loans reached 6.4 percent.
In general, the total volume of overdue loans in Azerbaijan reached 1.81 billion manats (an increase by 17.5 percent for the year). Their share in the loan portfolio of the country’s banks and non-banking credit organizations as of June 2017 reached 13 percent.
As of late June 2017, the volume of short-term loans amounted to 2.86 billion manats (including overdue loans worth 380.2 million manats), the volume of long-term loans amounted to 11.02 billion manats (including overdue loans worth 1.43 billion manats).
According to the CBA, the loan portfolio of the state banks in Azerbaijan amounted to 3.86 billion manats, and their share in the loan portfolio of the country’s banks and non-banking credit organizations was 27.8 percent.
The country’s private banks issued loans in the amount of 9.63 billion manats, and their share accounted for 69.3 percent.
Some 3.94 billion manats of these loans account for the share of banks with foreign capital.
The remaining 2.9 percent account for the share of non-bank credit organizations, which issued loans in the amount of 399.2 million manats.
There are 31 banks and 123 non-bank credit organizations in Azerbaijan.
The official exchange rate for Aug. 10 is 1.7007 AZN/USD.