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Volume of mortgage loans in absolute value increases in Azerbaijan as of 2020

Finance Materials 28 January 2021 22:13
Volume of mortgage loans in absolute value increases in Azerbaijan as of 2020

BAKU, Azerbaijan, Jan. 28

By Zeyni Jafarov - Trend:

The loan portfolio in the Azerbaijani banking sector amounted to 14.2 billion manat ($8.3 billion) in 2020, while the country's banks completed 2019 with a loan portfolio of 14.9 billion manat ($8.8 billion), Trend reports citing the financial report of the Central Bank of Azerbaijan (CBA).

Since the beginning of 2020, the total loan portfolio of the country's banking sector has decreased by five percent or 743.9 million manat ($437.6 million).

In accordance with the CBA report, in the structure of the loan portfolio of Azerbaijani banks, the main part (59.9 percent) accounted for business loans, the volume of which decreased by 6.1 percent (by 553.3 million manat that’s $325.5 million) and amounted to 8.5 billion manat ($5 billion) compared to early 2020.

In terms of shares, the volume of business loans decreased by 0.7 percentage points compared to early 2020.

Consumer loans accounted for 25.9 percent of all loans in the Azerbaijani banking sector and the volume has decreased by 10.2 percent (by 414.1 million manat that’s $243.6 million) since early 2020 and amounted to 3.7 billion manat ($2.2 billion). The share of consumer loans decreased by 1.4 percentage points.

Mortgage loans accounted for remaining 14.25 percent of all loans, the share of which increased by 2.22 percentage points.

The volume of mortgage loans in absolute terms since early 2020 increased by 12.5 percent (223.5 million manat that’s $131.5 million) and amounted to 2.02 billion manat ($1.2 billion).

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