Volume of problem loans of Azerbaijan’s Bank of Baku decreases
Baku, Azerbaijan, July 23
By Eldar Janashvili - Trend:
The volume of problem loans of Azerbaijan’s Bank of Baku LLC in the second quarter of this year amounted to 91.778 million manats, decreasing by 53 percent compared to the same period last year, Trend reports with reference to the financial report of the bank.
The share of problem loans declined by 13 percent and accounted for one third of the total loan portfolio.
The problem loans in the industrial sector, with the exception of the energy sector, amounted to 241,400 manats or 10.1 percent of the volume of loans issued. In the sphere of trade and services, problem loans amounted to 23.772 million manats or 36.2 percent of the amount of loans in the industry. Among consumer loans, problem loans amounted to 63.357 million manats (a share of 31.7 percent).
The total loan portfolio as of July 1 this year amounted to 277.968 million manats.
Some 2.373 million manats were issued to enterprises in the industrial sector (excluding the energy sector), which accounted for less than 1 percent of the total volume of the loans issued.
In the sector of trade and services, loans worth 65.615 million manats were issued. Their share accounted for 23.6 percent of the total amount. Loans worth 10.128 million manats were issued to agriculture (3.6 percent of the total amount). Consumer loans amounted to 199.852 million manats (71.9 percent).
The total amount of loans and leasing agreements, upon deducting target reserves, amounted to 172.157 million manats.
($1= 1.7 manats on July 23)