Baku, Azerbaijan, Jan. 16
By Azad Hasanli – Trend:
The volume of bank crediting to the agricultural sector in Azerbaijan totaled 430.8 million manats in January-November 2017 that is by 3.3 percent more than in the same period of 2016, says a report of the country’s Central Bank.
Almost all loans – 430.5 million manats – were issued to companies operating in the private sector.
State-owned enterprises obtained loans worth 0.3 million manats during the period.
According to the report, a major part of the loans (403.7 million manats) were provided for the long term period, the volume of short-term loans totaled 27 million manats. All loans issued for the state-owned enterprises were long-term loans.
More than 81 percent (350.7 million manats) of all loans were issued in national currency. The share of foreign currency prevailed only in short-term loans, and accounted for 59.3 percent (16 million manats).
Thirty banks operate in Azerbaijan, including two state-owned banks.
Total volume of crediting by banks and non-bank credit organizations amounted to 12.22 billion manats in January-November 2017 that is by almost 25 percent less than in the same period of 2016.