BAKU, Azerbaijan, Oct. 31
By Eldar Janashvili - Trend:
In September 2019, the volume of problem loans in Azerbaijan dropped by 17.5 percent (305.8 million manat, or $179.1 million) in comparison with the same period last year, Trend reports Oct. 31 referring to the Azerbaijani Central Bank (CBA).
In September 2019, the volume of problem loans reached 1.4 billion manat ($820.6 million).
The volume of credit investments of private banks in the Azerbaijani economy as of Oct. 1, 2019, amounted to 11.4 billion manat ($6.6 billion). Since the beginning of the year, their volume increased by 8.8 percent, and by 14 percent on an annualized basis. The share of credit investments by private banks amounted to 80.4 percent, having decreased by 0.5 percent since the beginning of the year.
The volume of credit investments of state banks in Azerbaijan’s economy amounted to 2.4 billion manat ($1.4 billion). Since the beginning of the year, their volume has increased by 15.3 percent, and on an annualized basis by 33 percent. The share of credit investments by state banks amounted to 17 percent, increasing from the beginning of the year by 0.9 percent, and by 1.9 percent on an annualized basis.
The volume of credit investments of non-bank credit organizations (NBCOs) amounted to 370.9 million manat ($217.2 million, or a decline of 7.5 percent for the year). Their share in the total volume of credit investments was 2.6 percent (3.3 percent in September 2018).
In total, the volume of credit investments in Azerbaijan’s economy amounted to 14.2 billion manat ($8.3 billion). Since the beginning of the year, this amount has increased by 9.4 percent, and by 15.8 percent for the year.
The volume of loans in national currency in September 2019 amounted to 9.3 billion manat ($5.4 billion, or an increase of 24.1 percent compared to September 2018), and their share in the loan portfolio of banks amounted to 65.8 percent.
The volume of short-term loans in national currency amounted to 1.5 billion manat ($878.6 million), long-term loans - 7.8 billion manat ($4.5 billion).
Loans worth 4.8 billion in manat equivalent ($2.8 billion) were issued in foreign currency (an increase of 2.5 percent compared to September 2018), with a specific share of 34.2 percent.
($1 = 1.7 manat on Oct. 31)
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