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Azerbaijan's lending to household sector grows year-on-year

Finance Materials 7 June 2021 11:35 (UTC +04:00)

BAKU, Azerbaijan, June 7

By Zeyni Jafarov - Trend:

The volume of loans in the household sector in Azerbaijan has grown as of early May 2021, Trend reports referring to the Central Bank of Azerbaijan's statistical report.

According to the report, this indicator rose by 5.1 percent compared to early May 2020, making up 7.04 billion manat ($4.14 billion).

Meanwhile, 1.03 billion manat ($610 million), or 15.1 percent of loans to this sector, accounted for short-term loans, of which 845.9 million manat ($497.6 million) were issued in national currency and 180.8 million manat ($106.3 million) in foreign currency.

Long-term loans exceeded 5.78 billion manat ($3.4 billion), or 84.9 percent of the sector. Loans in the national currency were issued in the amount of 5.51 billion manat ($3.24 billion), and the share of foreign currency accounted for 266.6 million manat ($156.8 million).

The household lending operations were mainly carried out in the national currency. So, the total operations carried out in the currency amounted to 93.4 percent (about 6.36 billion manat or $3.74 billion) of the total amount of lending to the household sector.

The share of household lending in lending to the real sector as of early April this year amounted to 47 percent, having increased by 2.7 percentage points over the year.

(1 USD = 1.7 AZN on June 7)

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