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Lending in national currency grows in Azerbaijan

Finance Materials 13 November 2018 15:49

Baku, Azerbaijan, Nov. 13

By Taleh Mursagulov – Trend:

As of October 1, 2018, the credit organizations of Azerbaijan increased lending by 4.6 percent compared to the beginning of the year, up to 12,302.4 million manats, as follows from the report of the Central Bank.

Since the beginning of the year, the volume of overdue loans increased by 7.5 percent to 1,748.7 million manats, the report reads. At the same time, the share of overdue loans increased over the same period from 13.8 to 14.2 percent.

Last year, the loan portfolio of banks and non-bank credit organizations amounted to 11,757.8 million manats. As for the overdue loans, during 2017, the amount of overdue loans ranged from 1.6 to 1.89 billion manats.

The lending in national currency at the beginning of November amounted to 7,557.2 million manats (growth by 8.68 percent from the beginning of the year), and its share in the loan portfolio of banks amounted to 61.43 percent.

The volume of lending in foreign currency amounted to 4,745.2 million in manat equivalent (reduction by 1.23 percent from the beginning of the year) with a share of 38.57 percent in the loan portfolio of banks.

The volume of short-term loans amounted to 2,463.4 million manats, the volume of long-term loans – to 9,839 million manats.

Distribution of the loan portfolio by sectors of the economy (as of the end of September 2018):

Trade and services sector

Energy, chemistry and natural resources sector

Agriculture and processing

Construction and property

Industry and manufacturing sector

Transport and communication

Households

Volume of loans

Share (%)

Volume of loans

Share (%)

Volume of loans

Share (%)

Volume of loans

Share (%)

Volume of loans

Share (%)

Volume of loans

Share (%)

Volume of loans

Share (%)

September 2018

2077.4

16.9

286.4

2.3

463.8

3.8

388

3.2

677.8

5.5

1289.3

10.5

5051.1

41.1

December 2017

2069.2

17.6

315.5

2.7

429.2

3.7

546.2

4.6

621.2

5.3

1126.7

9.6

4606.5

39.2

September 2017

2201.9

17.7

358.2

2.9

461.9

3.7

545.4

4.4

637.7

5.1

1060.9

8.5

4881.5

39.2

Some 15.11 percent (1,858.8 million manats) of total lending in Azerbaijan fell to the share of state-owned banks in the country, 81.63 percent (10,042.6 million manats) — to the share of private banks, 3.26 percent (401.1 million manats) – to the share of non-bank credit organizations.

Some 30 banks including two banks with public ownership, and about 120 non-bank credit organizations are functioning currently in Azerbaijan.

The official exchange rate on November 13 is 1.7 AZN / USD.

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Follow the author on Twitter: @TalehMursagulov

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