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Amount of problem loans down in Azerbaijan

Finance Materials 2 July 2020 14:13 (UTC +04:00)
Amount of problem loans down in Azerbaijan

BAKU, Azerbaijan, July 2

By Eldar Janashvili – Trend:

As of June 1, 2020, the amount of problem loans on an annualized basis decreased by 18 percent (271.3 million manat that’s $159.6 million), amounting to 1.08 billion manat ($635 million), Trend reports referring to the statistical bulletin of Central Bank of Azerbaijan (CBA).

The total loan portfolio of the banking sector and non-bank credit organizations increased by 11.9 percent, amounting to 14.8 billion manat ($8.7 billion).

The share of state banks in the issued loans amounted to 2.6 billion manat that’s $1.5 billion (17.4 percent of the total portfolio), of private banks - to 11.8 billion manat that’s $6.9 billion (79.9 percent), and of non-bank credit organizations - to 404.7 million manat that’s $238 million (2.7 percent).

The volume of loans issued in national currency as of late May 2020 amounted to 9.9 billion manat that’s $5.8 billion (an increase of 16.2 percent compared to May 2019), with 67.2-percent share in the loan portfolio of banks.

Loans worth 4.8 billion in manat equivalent ($2.8 billion) were issued in foreign currency (an increase of 3.9 percent compared to May 2019) with a specific weight of 32.8 percent.

The short-term loans amounted to 1.8 billion manat in national currency ($1.05 billion) and 818 million manat in foreign currency ($481 million). The long-term loans amounted to 8.2 billion manat ($4.8 billion) and 4.02 billion manat ($2.4 billion), respectively.

(1 USD = 1.7 AZN on July 2)

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