CBA decreases lending to banks

Finance Materials 3 May 2019 14:15 (UTC +04:00)

Baku, Azerbaijan, May 3

By Azad Hasanli - Trend:

In 2018, the Central Bank of Azerbaijan (CBA) issued loans worth 310.87 million manats (minus depreciation reserves) to commercial banks, Trend reports referring to the CBA financial report audited by PwC.

In 2017, lending by CBA slightly exceeded 400 million manats, according to the report.

Out of the total volume of loans issued last year, about 310.66 million manats (398.88 million manats in 2017) accounted for the share of refinancing loans, and 204,000 manats (almost 2 million manats in 2017) accounted for the loans of last instance.

The refinancing loans are issued to banks as part of the implementation of the CBA’s monetary policy, and loans of last instance are issued for a period of not more than six months in case of a short-term violation of banks’ solvency or lack of liquidity.

(1 USD = 1.7 AZN on May 3)

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