CBA shares data on lending to energy, chemistry, and natural resources sector

BAKU, Azerbaijan, Jan. 6

By Zeyni Jafarov – Trend:

The volume of lending to the energy, chemistry, and natural resources sector in Azerbaijan amounted to 516.7 million manat ($303.9 million) as of early December 2020, Trend reports citing data from the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure decreased by 94.5 million manat ($55.6 million) or 15.5 percent compared to the same period of 2019. This figure decreased by 112.7 million manat ($66.3 million) or 17.9 percent since early 2020.

Some 8.4 million manat ($4.9 million) or 1.6 percent accounted for short-term loans. Around 600,000 manat ($352,941) were issued in national currency and 7.8 million manat ($4.6 million) in foreign currency.

Some 490.2 million manat ($288.3 million) or 94.9 percent accounted for long-term loans, i.e. by 87 million manat ($51.2 million) or 15 percent less compared to early December 2019.

Loans worth 700,000 manat ($411,764) were issued in national currency and 489.5 million manat ($287.9 million) fell to the foreign currency.

Most of all lending operations carried out in the sector fell on foreign currency, accounting for 96.2 percent (497.3 million manat, or $292.5 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 this figure decreased by 0.5 percent points compared to the same period of 2019.

In general, the volume of lending to the Azerbaijani real sector amounted to 14.7 billion manat ($8.6 billion) as of December 1, 2020, showing an annualized decline of 435.1 million manat ($255.9 million) or 2.9 percent.

(1 USD = 1.7 manat on Jan. 5)

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