...

Volume of problem loans shrinks in Azerbaijan

Finance Materials 2 June 2020 14:36 (UTC +04:00)
Volume of problem loans shrinks in Azerbaijan

BAKU, Azerbaijan, June 2

By Eldar Janashvili – Trend:

As of May 1, 2020, the volume of problem loans on an annualized basis decreased by 18 percent (271.3 million manat that’s $159.6 million), amounting to 1.2 billion manat ($705.9 million), Trend reports referring to the statistics bulletin of the Central Bank of Azerbaijan (CBA).

The total loan portfolio volume of the banking sector and non-bank credit organizations increased by 16.4 percent, amounting to 15.1 billion manat ($8.9 billion).

The share of the state banks in the issued loans amounted to 2.6 billion manat that’s $1.5 billion (17.5 percent of the total portfolio), private banks - 12.1 billion manat that’s $7.1 billion (79.9 percent), non-bank credit organizations - 404.7 million manat that’s $238.05 million (2.7 percent).

The volume of the loans issued in national currency as of April 2020 amounted to 10.2 billion manat that’s $6 billion (an increase of 21.6 percent compared to April 2019) and their share in the loan portfolio of banks accounted for 67.2 percent.

The loans in the amount of 4.9 billion in manat equivalent ($2.9 billion) were issued in foreign currency (an increase of 14.4 percent compared to April 2019) with a 35-percent-share.

The volume of short-term loans amounted to 1.8 billion manat ($1.05 billion) in national currency and 895 million manat ($526 million) in foreign currency. The volume of long-term loans amounted to 8.4 billion manat ($4.9 billion) and 4.1 billion manat ($2.4 billion), respectively.

(1 USD = 1.7 AZN on June 2)

-----

Follow the author on Twitter: @eldarjanashvili

Tags:
Latest

Latest