BAKU, Azerbaijan, Dec.3
By Zeyni Jafarov - Trend:
The volume of lending to the energy, chemistry, and natural resources sector in Azerbaijan amounted to 512.8 million manat ($301.8 million) as of early November 2020, Trend reports citing data from the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure decreased by 29.5 million manat ($17.3 million) or 5.4 percent compared to the same period of last year, and by 116.6 million manat ($68.6 million) or 18.5 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 600,000 manat ($353,100) were issued in national currency and 7.7 million manat ($4.5 million) in foreign currency.
Some 491.6 million manat ($289.3 million) or 95.9 percent of the loans issued for the sector accounted for long-term loans, i.e. by 85.6 million manat ($50.3 million) or 14.8 percent less compared to the beginning of November last year. Loans worth 500,000 manat ($294,290) were issued in national currency, and 491 million manat ($289 million) fell to the foreign currency.
Most of all lending operations carried out in the sector fell on foreign currency, accounting for 97.3 percent (498.7 million manat, or $293.5 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 0.3 percent points.
In general, the volume of lending to the Azerbaijani real sector amounted to 14.78 billion manat ($8.7 million) as of November 1, 2020, showing annualized growth of 340.1 million manat ($200.18 million) or 2.35 percent.
(1 USD = 1.7 manat on Dec.3)
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