Agriculture sector’s share in loan portfolio of banks in Azerbaijan revealed
Baku, Azerbaijan, Dec. 13
By Anvar Mammadov – Trend:
In January-October 2017, lending to agriculture and processing sector in Azerbaijan totaled 454.4 million manats, the country’s Central Bank (CBA) said in a report.
The share of agriculture and processing sphere in the loan portfolio of banks and non-bank credit organizations in Azerbaijan was 3.7 percent, according to the report.
In October 2017, volumes of lending to agriculture slightly decreased (by 1.6 percent) as compared to the volumes in late September, but still remain the highest since December 2015.
The biggest share of loans in Azerbaijan still accounts for consumer lending - 4.68 billion manats with a specific weight of 38.5 percent. Compared to the same period of last year, the volume of consumer loans decreased by 20.8 percent, and by 4.1 percent for the month.
Sector of trade and services (with a specific weight of 17.4 percent, or 2.12 billion manats) ranks second, followed by the transport and communications sector (8.8 percent, or 1.07 billion manats).
As of November 1, 2017, loans for industry and production amounted to 624.1 million manats (5.1 percent). The share of construction and real estate sector accounted for 4.5 percent (543.9 million manats), and the share of energy, chemistry and natural resources spheres accounted for 2.6 percent (319.5 million manats).
(1.7001 manats = 1 USD on Dec. 13)