Loan portfolio of banks, NBCOs in Azerbaijan down
BAKU, Azerbaijan, Sept.26
By Fidan Babayeva – Trend:
The loan portfolio of banks and non-bank credit organizations (NBCOs) of Azerbaijan decreased by 4 percent in the past eight months of 2020, compared to the same months of 2019, amounting to 14.6 billion manat ($8.5 billion), Trend reports citing the Central Bank of Azerbaijan (CBA).
According to the CBA, the reduction was followed by the revocation of licenses of four banks in April-May 2020.
"Of the total volume of loans issued at the beginning of September 2020, 10.4 billion manat ($6.1 billion) were issued in the national currency, an increase of 0.4 percent. Meanwhile, lending in foreign currency amounted to 4.6 billion manat ($2.7 billion), having declined by 12.2 percent year on year. So, the share of loans in foreign currency as of early September was 31.6 percent," said the CBA.
"In the structure of banks' credit investments as of September 1, 2020, 2.95 billion manat ($1.7 billion) accounted for trade and services, 545.4 million manat ($320.8 million) - energy, chemical and natural resources, agriculture and processing - 557.7 million manat ($328 million), construction and real estate - 433.1 million manat ($254.7 million), industry and manufacturing sector - 1.19 million manat ($700,000), transport and communications - 901.8 million manat ($530.4 million), for households – 6.6 billion manat ($3.8 billion), the rest - for other sectors. At the same time, the portfolio of banks for lending to households decreased by 4.6 percent over the year," the CBA said.
The CBA also added that the volume of overdue loans as of early September is 1.65 billion manat ($970.5 million), declining by 16.3 percent.
(1 USD = 1.7 AZN on Sept.26)
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