Volume of problem loans decreases in Azerbaijan
BAKU, Azerbaijan, Jan. 31
By Eldar Janashvili - Trend:
The volume of problem loans in Azerbaijan dropped by 19.7 percent (278.3 million manat, or $163.7 million) in 2019 in comparison with 2018, Trend reports Jan. 31 referring to the Azerbaijani Central Bank (CBA).
The volume of problem loans in 2019 reached 1.2 billion manat ($705.8 million).
The total loan portfolio of the banking sector and non-bank credit organizations (NBCOs) increased by 17.7 percent, amounting to 15.3 billion manat ($9 billion).
The share of state banks in issued loans amounted to 2.5 billion manat ($1.4 billion, or 16.7 percent of the total portfolio), the share of private banks – 12.3 billion manat ($7.2 billion, or 80.7 percent), NBCOs – 397.2 million manat ($233.6 million, or 2.6 percent).
The volume of loans in national currency in 2019 amounted to 10 billion manat ($5.8 billion, or an increase of 23.9 percent compared to 2018), and their share in the loan portfolio of banks was 65.4 percent.
Loans worth 5.3 billion manat ($3.1 billion) were issued in foreign currency (an increase of 7.1 percent compared to 2018), with a specific weight of 34.6 percent.
The volume of short-term loans in local currency amounted to 1.6 billion manat ($989.9 million) and in foreign currency – 1.2 billion manat ($741.1 million).
The volume of long-term loans in local currency amounted to 8.3 billion manat ($4.8 billion) and in foreign currency – 4 billion manat ($2.3 billion).
($1 = 1.7 manat on Jan. 31)
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