...

Lending to legal entities in real estate sector grows in Azerbaijan

Finance Materials 24 July 2021 13:19 (UTC +04:00)
Lending to legal entities in real estate sector grows in Azerbaijan

BAKU, Azerbaijan, July 24

By Sadraddin Aghjayev - Trend:

The total amount of loans issued to legal entities engaged in real estate in Azerbaijan amounted to 252.3 million manat ($148.4 million) in the first 5 months of 2021, which is 5 times more compared to the same period of 2020, Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).

“Excluding problem loans, as well as loans issued by non-bank credit organizations, 11.6 million manat ($6.82 million) of this amount were short-term loans. Of these, loans in national currency amounted to 5.7 million manat ($3.35 million), in foreign currency - 5.9 million manat ($3.47 million),” the CBA said.

“Long-term loans issued to legal entities engaged in real estate amounted to 240.7 million manat. Loans in the national currency were issued in the amount of 8.3 million manat ($4.88 million), and loans in the amount of 232.4 million manat ($136.7 million) fell to the share of foreign currency,” the bank said.

Lending to this area in the specified period was mainly provided to private institutions, and operations were carried out mainly in foreign currency.

In total, lending to the real sector of the economy of Azerbaijan in the first five months of 2021 amounted to 15 billion manat ($8.82 million), which is more than the same period last year by 301.4 million manat ($177.3 million), or 2 percent.

---

Follow the author on Twitter: agdzhaev

Tags:
Latest

Latest