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Household sector - leader for 2020 lending in Azerbaijan

Finance Materials 27 January 2021 12:02
Household sector - leader for 2020 lending in Azerbaijan

BAKU, Azerbaijan, Jan.27

By Zeyni Jafarov – Trend:

The largest share of loans in Azerbaijan fell on the household sector, amounting to 46.2 percent as of late 2020, Trend reports citing the Central Bank's statistical bulletin.

The volume of loans in the household sector decreased by 3.9 percent or 269.4 million manat ($158.47 million) compared to the same period of last year, amounting to slightly over 6.7 billion manat ($3.95 billion), said the bulletin.

"The volume of loans in trade and services as of late 2020 increased by 4.6 percent or 115.5 million manat ($67.9 million) compared to the end of the previous year, reaching 2.6 billion manat ($1.53 billion). The share of the total volume of credit investments in this sector amounted to 17.9 percent," the bulletin noted.

"At the same time, the volume of loans in the field of transport and communications amounted to 848.5 million manat ($499.1 million), which is equal to 5.8 percent of the total volume of loans in the real sector. Over the year, this figure decreased by 355.8 million manat ($209.3 million). In the field of industry and production, on an annualized basis, there was an increase in lending by 377.5 million manat ($222 million) or 43.3 percent, and as of the end of the reporting year, lending to this sector made up 1.25 billion manat ($740 million)," said the report.

Distribution of the loan portfolio by sectors of the economy:

Sectors of the economy

The volume of loans, 2020

The volume of loans, 2019

Share (%), 2020

Share (%), 2019

Trade and services

2.6 billion manat ($1.53 billion)

2.49 billion manat ($1.46 billion)

17.9

16.3

Energy, chemistry, and natural resources

524.5 million manat ($308.5 million)

625.9 million manat ($368.2 million)

3.6

4.1

Agriculture and processing

566.2 million manat ($333 million)

543.4 million manat ($319.6 million)

3.9

3.6

Construction and property

493 million manat ($290 million)

477.1 million manat ($280.6 million)

3.4

3.1

Industry and manufacturing sector

1.25 billion manat ($740 million)

872.6 million manat ($513.3 million)

8.6

5.7

Transport and communication

848.5 million manat ($499.1 million)

1.2 billion manat ($705.8 million)

5.8

7.9

Household

6.7 billion ($3.94 billion)

6.97 billion manat ($4.1 billion)

46.2

45.6

In general, the volume of lending to the real sector as of late 2020 amounted to 14.53 billion manat ($8.55 billion).

(1 USD = 1.7 AZN on Jan.27)

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