BAKU. Azerbaijan, Apr.6
By Zeyni Jafarov - Trend:
The volume of problem loans in Azerbaijan decreased by 29.3 percent or 380.3 million manat ($223.7 million) from January through February 2021 compared to the same period of 2020, amounting to 917.5 million manat ($539.7 million), Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).
According to the CBA, the total volume of the loan portfolio of the banking sector and non-bank credit organizations (NBCO) decreased by 6.9 percent over the year, amounting to 14.6 billion manat ($8.58 billion).
“The share of state-owned banks in issued loans amounted to 2.8 billion manat ($1.64 billion) or 19.2 percent of the total portfolio, private banks - 11.4 billion manat ($6.7 billion) or 78.3 percent, NBCOs - 373.4 million manat ($219.6 million) or 2.6 percent,” the CBA said.
“The volume of loans issued in national currency by early March 2021 amounted to 10.4 billion manat ($6.11 billion), an increase of 2.1 percent compared to early March 2020, and their share in the loan portfolio of banks was 71.2 percent,” the bulletin said.
As reported, loans worth 4.21 billion manat ($24.7 billion) were issued in foreign currency during the reporting period, a decline of 23.4 percent year on year, with a specific weight of 28.8 percent of the banks' loan portfolio.
“The volume of short-term loans in Azerbaijan amounted to 1.86 billion manat ($1.09 billion) in national and 669.1 million manat ($393.5 million) in foreign currency, while the volume of long-term loans in national and foreign currency amounted to 8.55 billion manat ($5.03) and 3.54 billion manat ($20.8 billion), respectively.
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