BAKU, Azerbaijan, June 8
By Zeyni Jafarov - Trend:
The loans worth 249.2 million manat ($146.6 million) were issued to legal entities engaged in the Azerbaijani real estate sector as of early May 2021, which is by six times more than in the same period of last year, Trend reports with reference to the statistics report of the Central Bank of Azerbaijan (CBA).
Excluding problem loans, as well as loans issued by non-bank credit organizations, 12.3 million manat ($7.2 million) of this amount accounted for short-term loans. Some 5.8 million manat ($3.4 million) out of that amount accounted for the loans in national currency while 6.6 million manat ($3.9 million) - in foreign currency.
The long-term loans worth 236.9 million manat ($139.3 million) were issued to legal entities engaged in the real estate sector.
The loans in the national currency were issued in the amount of 8.4 million manat ($4.9 million) while the share of foreign currency accounted for loans in the amount of 228.5 million ($134.4 million) in manat equivalent.
The loans in this sector during the reporting period were mainly issued to private institutions while the operations were carried out mainly in foreign currency.
The share of lending to the real estate sector in lending to the real sector of the economy amounted to 14.6 percent, which is 1.7 percent more than in the same period of 2020.
In general, lending to the real sector of the Azerbaijani economy amounted to 14.9 billion manat ($8.8 billion) during the first four months of 2021, which is by 159.3 million manat ($93.7 million) or 1.1 percent less than in the same period of last year.
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