BAKU, Azerbaijan, Nov. 17
By Zeyni Jafarov - Trend:
The volume of lending to the trade and services sector in Azerbaijan in September 2020 amounted to 2.48 billion manat ($1.45 billion), which is 4.3 percent or 102.3 million manat ($60.1 billion) more compared to August 2020, Trend reports citing a report of the Central Bank of Azerbaijan (CBA).
According to the CBA, an annual increase of the given figure was 0.1 percent or 2.3 million manat ($1.35 million).
“Around 651.9 million manat ($383.4 million) or 26.3 percent of loans were short-term loans. Of these, 460.1 million manat ($270.6 million) were issued in national currency, and 191.8 million manat ($112.8 million) in foreign currency,” said the report.
In September this year, the remaining 1.82 billion manat ($1.08 billion) or 73.7 percent fell on long-term loans, which is 124.8 million manat ($73.4 million) or 7.3 percent more compared to August this year. Loans in the national currency were issued in the amount of 1.02 billion manat ($600 million), and foreign currency - 803.1 million manat ($472.4 million).
In total, transactions carried out in national currency amounted to 60 percent or 1.48 billion manat or ($870.5 million) of the total amount of lending to the trade and services sector.
Lending was mainly provided to private institutions and transactions were carried out to a greater extent in the national currency. The share of lending to this sector in lending to the real sector amounted to 16.8 percent, a growth of is 0.1 percentage points.
(1 USD = 1.7 manat on Nov. 17)