BAKU, Azerbaijan, March 3
By Zeyni Jafarov - Trend:
The volume of lending to the trade and services sector in Azerbaijan in January 2021 amounted to over 2.6 billion manat ($1.5 billion), Trend reports citing a statistics report of the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure is by 180.4 million manat ($106.1 million) or by 7.4 percent more compared to January 2020.
Some 664.7 million manat ($391 million) or 25.5 percent of lending accounted for short-term loans. Some 490.3 million manat ($288.4 million) of that volume were issued in national currency while 174.4 million in foreign currency.
The remaining 1.9 billion manat ($1.1 billion) or 74.2 percent accounted for long-term loans. Loans in the national currency were issued in the amount of 1.1 billion manat ($647 million) while the share of foreign currency accounted for 789.5 million manat ($464.4 million).
Loans in this sector were mainly issued to the private institutions while transactions were mainly carried out in the national currency, amounting to 62.7 percent (1.6 billion manat or $941 million) of the total lending to the trade and services sector.
The share of lending to the trade and services sector in lending to the real sector amounted to 17.9 percent, having increased by 2.3 percentage points for the year.
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