Volume of problem loans increases in Azerbaijan’s AGBank
Baku, Azerbaijan, July 25
By Kheyraddin Nasirzade - Trend:
The volume of problem loans of Azerbaijan’s AGBank increased by 0.7 percent at the end of the second quarter this year compared to the same period of the last year, Trend reports with reference to the financial report of the bank.
The bank’s volume of overdue loans amounted to 149.201 million manats. The main share of problem loans accounted for funds issued in the processing sector, amounting to 37.725 million manats, which exceeds 25 percent of the total amount of problem loans.
Further, the volume of problem loans in the trade sector amounted to 26.697 million manats. Overdue loans issued in agriculture amounted to 26.538 million manats. The volume of problem loans of individuals amounted to 22.991 million manats.
The loan portfolio after deducting the target reserves in the amount of 33.962 million manats amounted to 199.631 million manats (a decrease by 10.5 percent over the year).
In the structure of the portfolio, the main share accounted for consumer loans of individuals, which totaled to 93.963 million manats. The volume of loans in the processing sector amounted to 37.821 million manats. In the sphere of trade, the bank issued loans worth 31.71 million manats. In addition, the bank invested 29.879 million manats in agriculture.
Other financial institutions were issued loans worth 11.556 million manats. In the construction sector, other non-production facilities and in the service sector, the bank allocated funds in the amount of 36.478 million manats.
The remaining amount was distributed among the areas of transport, information, communications and other industries.
($1= 1.7 manats on July 25)