Value of problem loans of VTB Bank Azerbaijan decreases

Baku, Azerbaijan, July 20

By Eldar Janashvili - Trend:

The value of problem loans of VTB Bank Azerbaijan in the second quarter of this year amounted to 168.87 million manats, decreasing by 11 percent compared to the previous quarter, Trend reports with reference to financial report of the bank.

Their share also decreased by 2.5 percent and made up 72 percent of the total loan portfolio.

The bank’s unsecured loans decreased by 24 percent and amounted to 9.996 million manats (4.3 percent share). Dangerous loans increased by more than three times and amounted to 1.358 million manats (0.6 percent share). Unreliable loans decreased by 6 percent and amounted to 181.684 million manats. Their share in the total loan portfolio was 78 percent, increasing by 1.5 percent. The value of non-standard loans also decreased by 6 percent and amounted to 193.039 million manats (82.9 percent share).

Loans worth 29.6 million manats were issued to the industrial sector. Problem loans in the sector amounted to 16.95 million manats or 57.1 percent of the total credit amount in the sector. Loans worth 126.34 million manats were issued in the sphere of trade and services. Problem loans in the industry amounted to 96.4 million manats or 76.4 percent of the total credit amount. User loans were issued in the amount of 75.8 million manats. Problem loans in the sector amounted to 55.4 million manats (72.5 percent share).

The aggregate loan portfolio amounted to 232.977 million manats, upon deducting the target reserve for possible losses on loans - 47.067 million manats. Aggregate problem loans amounted to 168.876 million manats or 72.5 percent of the total loan portfolio.

(1 USD = 1.7 AZN on July 20)

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