Baku, Azerbaijan, Dec. 14
By Anvar Mammadov – Trend:
As of early November 2017, the Azerbaijani credit organizations’ loans totaled 12.15 billion manats, which is by 23.2 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 2.3 percent for the month, said the report.
Loans in Azerbaijan’s national currency, the manat, prevail in the structure of the issued loans.
Some 58.8 percent (7.15 billion manats) of all loans account for those loans. Their volume decreased by nearly 16 percent during the year. Foreign currency loans account for 41.2 percent or about 5 billion manats. Their volume decreased by 31.6 percent as compared to October 2016.
In October 2017, the volume of overdue loans in Azerbaijani national currency reached 945 million manats, which is by 49.5 percent more as compared to the same period of 2016.
The share of overdue loans in Azerbaijani manats reached 7.8 percent of the loan portfolio of the country’s banks and non-banking credit organizations in October 2017, the report said.
In October 2017, overdue loans in foreign currency amounted to 944.6 million manats, which is by 27.1 percent more as compared to the same period of 2016, and the share of these loans reached 7.8 percent.
In general, the total volume of overdue loans in Azerbaijan reached 1.89 billion manats. Their share in the loan portfolio of the country’s banks and non-banking credit organizations reached 15.5 percent.
As of late October 2017, the volume of short-term loans amounted to 2.28 billion manats (including overdue loans worth 378.1 million manats), the volume of long-term loans amounted to 9.87 billion manats (including overdue loans worth 1.51 billion manats).