BAKU, Azerbaijan, Feb. 29
By Eldar Janashvili - Trend:
The volume of problem loans in Azerbaijan dropped by 16.7 percent (262.5 million manat, or $154.4 million) as of Jan. 31, 2020 compared to Jan. 31, 2019, Trend reports referring to the Azerbaijani Central Bank (CBA).
The overall volume of loans portfolio of banking sector and non-banking credit organizations (NBCOs) increased by 20.4 percent in Jan. 2020 and reached 15.5 billion manat ($9.1 billion).
The share of state banks in issued loans amounted to 2.5 billion manat ($1.5 billion, or 16.3 percent of the total portfolio), the share of private banks – 12.6 billion manat ($7.4 billion, or 81.1 percent), NBCOs – 397.2 million manat ($233.6 million, or 2.6 percent).
The volume of loans in national currency in Jan. 2020 amounted to 10 billion manat ($5.8 billion, or an increase of 23.4 percent compared to Jan. 2019), and their share in the loan portfolio of banks was 64.5 percent.
Loans worth 5.5 billion manat ($3.2 billion) were issued in foreign currency (an increase of 14.2 percent compared to Jan. 2019), with the share in total volume amounting to 35.5 percent.
Accroding to CBA, 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 – 4.3 billion manat ($2.5 billion).