Baku, Azerbaijan, July 6
By Kheyraddin Nasirzade - Trend:
In 2018, Azerbaijan's Rabitabank significantly increased the issuance of cash consumer loans for individual customers by 91.5 percent to 39.151 million manats, which is about 10 percent of the loan portfolio, Trend reports referring to the audited report of the bank, prepared by KPMG Audit Azerbaijan.
According to the report, the volume of corporate loans increased by 30 percent to 247.701 million manats, which constitutes the main share of all loans issued over the past year (about 62 percent).
The bank also increased the issuance of mortgage loans by 2.3 times up to 34.937 million manats. The share of mortgage lending in the portfolio increased from 6 to 9 percent.
Growth is also observed in microfinance - the bank allocated microcredits worth 27.262 million manats, which is 4.9 million more than in 2017. However, their share decreased from 8 to 7 percent.
In 2018, the volume of consumer loans increased significantly by 52.6 percent to 19.868 million manats. Meanwhile, their share remained unchanged - 5 percent.
The bank significantly increased the volume of Lombard loans by 7.765 million manats to 19.179 million manats in 2018.
During the reported period, the volume of car loans increased by 57 percent and reached 10.158 million manats.
Moreover, in 2018, the volume of money on credit cards increased by 27.2 percent and reached 3.631 million manats.
Overall, the bank's loan portfolio during the reported period increased by 42.5 percent and amounted to 401.887 million manats.
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