BAKU, Azerbaijan, Apr. 1
By Eldar Janashvili - Trend:
The volume of problem loans in Azerbaijan (as to February 29, 2020) dropped by 17.5 percent (276.9 million manat, or $162.8 million) in annual terms, standing at 1.3 billion manat ($760 million), Trend reports referring to the Azerbaijani Central Bank (CBA).
The total loan portfolio of the banking sector and non-bank credit organizations (NBCOs) increased by 20.4 percent, amounting to 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 – 12.7 billion manat ($7.4 billion, or 81.1 percent), NBCOs – 397.2 million manat ($233.6 million, or 2.5 percent).
The volume of loans in national currency in January 2020 amounted to 10 billion manat ($5.8 billion, or an increase of 23.4 percent compared to January 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 14.4 percent compared to February 2019), with a specific weight of 35 percent.
The volume of short-term loans in local currency exceeded 1.6 billion manat ($990 million) and in foreign currency – exceeded 1.2 billion manat ($710 million).
The volume of long-term loans in local currency amounted to 8.5 billion manat ($5 billion) and in foreign currency – 4.3 billion manat ($2.5 billion).
($1 = 1.7 manat on Apr. 1)
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