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Amount of problem loans in Azerbaijan down

Finance Materials 28 July 2020 13:42
Amount of problem loans in Azerbaijan down

BAKU, Azerbaijan, July 28

By Eldar Janashvili – Trend:

The amount of problem loans in Azerbaijan as of July 1, 2020, on an annual basis decreased by 28.3 percent (420.9 million manat that’s $247.5 million), amounting to 1.06 billion manat ($620 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 7.9 percent, amounting to 14.5 billion manat ($8.5 billion).

The share of state banks in the issued loans amounted to almost 2.6 billion manat that’s $1.5 billion (17.8 percent of the total portfolio), of private banks - to 11.5 billion manat that’s $6.7 billion (79.6 percent), and of non-bank credit organizations - to 380.9 million manat that’s $224 million (2.9 percent).

The volume of loans issued in national currency as of late June 2020 amounted to 9.9 billion manat that’s $5.8 billion (an increase of 13.5 percent compared to June 2019), with 68-percent share in the loan portfolio of banks.

Loans worth 4.6 billion in manat equivalent ($2.7 billion) were issued in foreign currency (a decline of 2.3 percent compared to June 2019) with a specific weight of 32 percent.

The short-term loans amounted to over 1.7 billion manat in national currency ($1.02 billion) and 755 million manat in foreign currency ($444.1 million). The long-term loans made up 8.1 billion manat ($4.7 billion) and 3.9 billion manat ($2.2 billion), respectively.

(1 USD = 1.7 AZN on July 28)

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