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Azerbaijan discloses volume of lending to households in national currency

Finance Materials 24 February 2021 00:05
Azerbaijan discloses volume of lending to households in national currency

BAKU, Azerbaijan, Feb. 24

By Jeyhun Alakbarov - Trend:

The volume of lending to the household sector in Azerbaijan in 2020 amounted to 6.7 billion manat ($3.9 billion), Trend reports citing the statistics report of the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is by 269.4 million manat ($158.5 million) or 3.9 percent less compared to 2019.

Some 979.9 million manat ($576.4 million) or 14.6 percent of loans to this sector accounted for short-term loans, of which 792.6 million manat ($466.2 million) were issued in national currency, while 187.2 million - in foreign currency.

Long-term loans amounted to 5.5 billion manat ($3.2 billion) or 81.9 percent, and this figure is by 300,000 manat ($176,470) or 0.001 percent more than in 2019.

Loans in the national currency were issued in the amount of 5.2 billion manat ($3.05 billion) while the share of foreign currency accounted for 326.5 million manat ($192.05 million).

Lending transactions in the field of household were mainly carried out in the national currency. In total, transactions carried out in national currency amounted to 88.9 percent (over 5.9 billion manat that’s $3.5 billion) of the total amount of lending to the household sector.

The share of lending to households in lending to the real sector in 2020 amounted to 46.2 percent, an increase of 0.6 percentage points for the year.

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