Azerbaijani loan market down by one third in a year
Baku, Azerbaijan, Feb. 4
By Azad Hasanli – Trend:
Credit organizations of Azerbaijan decreased the volume of issued loans by 28.5 percent to 11,757.8 million manats in 2017 as compared to 2016, says a report of the country’s Central Bank.
According to the report, the volume of lending decreased by 3.8 percent in the country over a month.
The volume of overdue loans increased by 10.5 percent during the year, and decreased by 14 percent during a month. The share of overdue loans in the loan portfolio of banks and non-bank credit organizations stood at 13.8 percent.
Crediting in national currency amounted to 6,953.6 million manats (a decrease by 19.7 percent for the year) in 2017. Despite a significant reduction in manat loans, they still account for the biggest share of the loan market – 59.14 percent. According to the report, 11.35 percent of manat loans were overdue loans in 2017.
The share of overdue foreign currency loans stood at 17.4 percent.
The volume of short-term loans amounted to 2.1 billion manats, and long-term loans totaled 9.66 billion manats.
(1 USD = 1.7001 AZN on Feb. 4)