Azerbaijani-Turkish bank increases mortgage lending by over 81%
Baku, Azerbaijan, July 10
By Kheyraddin Nasirzade - Trend:
Last year, Azerbaijani-Turkish Azer-Turk Bank issued mortgage loans worth 48.239 million manats, which is 81.3 percent more compared to 2017, Trend reports referring to the audited report of the bank, compiled by the auditing company Ernst & Young Holdings (CIS) B.V.
According to the report, the volume of consumer loans over the past year more than doubled to 51.271 million manats. The volume of corporate loans increased significantly by 46.2 percent and amounted to 48.442 million manats.
Credits issued to state agencies during the reported period decreased by half to 27.818 million manats.
Lending to private entrepreneurs over the last year decreased by almost 40 percent and reached 6.116 million manats.
Among loans, the volume of loans in the transport sector decreased by almost 29 percent to 27.78 million manats. During the reported period, the bank began lending in the oil and gas sector, that amounted to 10.727 million manats. The volume of crediting of trade enterprises slightly increased to 8.367 million manats. In the sphere of production, loans decreased by 13.4 percent and reached 7.257 million manats. Credits issued for the development of agriculture slightly decreased to 7.397 million manats.
In the metallurgy sector, the volume of loans amounted to 5.338 million manats. The bank also issued loans in the telecommunications sector in the amount of 4.68 million manats, which shows a rise of 14.6 percent.
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