BAKU, Azerbaijan, Feb.1
By Zeyni Jafarov – Trend:
The volume of problem loans in Azerbaijan decreased by 29.85 percent or 380 million manat ($223.5 million) as of early January 2021 compared to the same period of 2020, making up 1.01 billion manat ($590 million), Trend reports on Feb.1 citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).
According to the CBA, the total loan portfolio of the banking sector and non-bank credit organizations lowered by 5 percent, amounting to 14.53 billion manat ($8.55 billion).
The share of state-owned banks in issued loans made up 2.78 billion manat ($1.64 billion) or 19.1 percent of the total portfolio, private banks - 11.38 billion manat ($6.7 billion) or 78.3 percent, and NBCOs - 373.4 million manat ($219.65 million) or 2.6 percent.
The volume of loans issued in national currency as of January 1 this year was 10.2 billion manat ($6 billion), an increase of 2 percent compared to January 1, 2020, and their share in the loan portfolio of banks was 70.2 percent.
In foreign currency, loans were issued in the amount of 4.33 billion in manat equivalent ($2.55 billion), an annual drop of 18.3 percent, with a specific weight of 29.8 percent.
The volume of short-term loans amounted to 1.75 billion manat ($1.03 billion) in national currency and 720.7 million manat ($423.9 million) in foreign currency. The volume of long-term loans amounted to 8.45 billion manat ($4.97 billion) and 3.6 billion manat ($2.12 billion) in national and foreign currencies, respectively.
(1 USD = 1.7 AZN on Feb.1)
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