Agriculture sector’s share in loan portfolio of banks in Azerbaijan revealed

Business Materials 15 February 2018 20:58 (UTC +04:00)

Baku, Azerbaijan, Feb. 15

By Anvar Mammadov – Trend:

In 2017, lending to agriculture and processing sector in Azerbaijan totaled 429.2 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 December 2017, volumes of lending to agriculture slightly decreased (by 5.1 percent) as compared to the volumes in late November.

The biggest share of loans in Azerbaijan still accounts for consumer lending - 4.61 billion manats with a specific weight of 39.2 percent. Compared to the same period of 2016, the volume of consumer loans decreased by 21.3 percent, and by 1.3 percent for the month.

Sector of trade and services (with a specific weight of 17.6 percent, or 2.07 billion manats) ranks second, followed by the transport and communications sector (9.6 percent, or 1.13 billion manats).

As of January 1, 2018, loans for industry and production amounted to 621.2 million manats (5.3 percent). The share of construction and real estate sector accounted for 4.6 percent (546.2 million manats), and the share of energy, chemistry and natural resources spheres accounted for 2.7 percent (315.5 million manats).

(1.7001 manats = 1 USD on Feb. 15)