BAKU, Azerbaijan, Nov.19
By Zeyni Jafarov - Trend:
The volume of lending to the energy, chemistry, and natural resources sector in Azerbaijan amounted to 522.7 million manat ($307.6 million) as of early October 2020, Trend reports citing data from the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure decreased by 1.5 million manat ($880,000) or 0.3 percent compared to the same period of last year, and by 106.7 million manat ($62.8 million) or 17 percent compared to early 2020.
The number of short-term loans made up 8.3 million manat ($4.8 million) or 1.6 percent of total respective loans. Of these, nearly 500,000 manat ($294,290) were issued in national currency and 7.8 million manat ($4.5 million) in foreign currency.
Some 491 million manat ($288.9 million) or 94 percent of the loans issued for the sector accounted for long-term loans, i.e. by 86.2 million manat ($50.7 million) or 14.9 percent less compared to the beginning of October last year. Loans worth 400,000 manat ($235,430) were issued in national currency, and 490.5 million manat ($288.7 million) fell to the foreign currency.
The loans were mainly provided to private institutions in national currency, accounting for 70.4 percent (396.8 million manat, or $233.5 million) of the total amount of lending to the energy, chemistry, and natural resources sector. The operations carried out in foreign currency were estimated at 137.5 million manat ($80.9 million).
Most of all lending operations carried out in the sector fell on foreign currency, accounting for 95.3 percent (498.3 million manat, or $293.2 million) of the total lending to this sector.
The share of lending to the mentioned sector in lending to the Azerbaijani real sector amounted to 3.5 percent and compared with a year earlier, this figure decreased by 0.2 percent points.
In general, the volume of lending to the Azerbaijani real sector amounted to 14.87 billion manat ($8.75 million) as of October 1, 2020, showing annualized growth of 630.7 million manat ($371.2 million) or 4.4 percent.
(1 USD = 1.7 manat on Nov.19)
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