BAKU, Azerbaijan, Dec. 5
By Zeyni Jafarov – Trend:
The volume of lending to the trade and services sector in Azerbaijan amounted to 2.55 billion manat ($1.55 billion) as of November 2020, having risen by 130.5 million manat ($76.7 million) or 5.4 percent year on year, Trend reports citing a statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA, the given figure increased by 4.9 percent or 119.9 million manat ($70.5 million) compared to early 2020.
As reported, 640.9 million manat ($377 million) or 25.2 percent of loans were short-term loans. Of these, 447.9 million manat ($263.4 million) were issued in national currency, and 193 million manat ($113.5 million) - in foreign currency.
“The remaining 1.89 billion manat ($1.11 billion) or 74.3 percent amounted to long-term loans and this figure is 14.2 million manat ($8.35 million) or 0.75 percent more compared to the beginning of November last year. Loans in the national currency were issued in the amount of 1.05 billion manat ($617.6 million), while the share of foreign currency accounted for 841.3 million manat ($494.8 million),” said the report.
Lending in this sector was mainly provided to private institutions and operations were carried out to a greater extent in the national currency. In total, transactions carried out in national currency amounted to 58.8 percent or 1.5 billion manat ($882.3 million) of the total amount of lending to the trade and services sector, said the report.
In the reporting period, the share of lending to the trade and services sector in lending to the real sector amounted to 17.2 percent, having increased by 0.5 percentage points over the year.
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