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Azerbaijan records majority of loans issued to households in 7M2021

Finance Materials 26 August 2021 12:03 (UTC +04:00)
Azerbaijan records majority of loans issued to households in 7M2021

BAKU, Azerbaijan, Aug. 26

By Zeyni Jafarov - Trend:

The biggest share of loans issued in Azerbaijan from January through July 2021 accounted for households, amounting to 48.6 percent out of total lending volume, Trend reports referring to the Central Bank of Azerbaijan's statistical bulletin.

According to the CBA, in the reporting period the volume of loans in the household sector in Azerbaijan has grown by 902.4 million manat ($530.8 million) or 13.8 percent compared to the same period of 2020, making up over 7.4 billion manat ($4.3 billion).

Meanwhile, loans in trade and services rose by 180.8 million manat ($106.3 million, or 6.8 percent year on year) - up to 2.5 billion manat ($1.5 billion) compared to the first seven months of 2020. The share in the total volume of lending in this sector amounted to 16.7 percent, the CBA said.

The loans in the field of transport and communications during the reporting period amounted to 757.3 million manat ($445.4 million), which is equal to 4.9 percent of the total amount of loans in the real sector. Over the year, this figure decreased by 160.4 million manat ($94.3 million).

There was also a decrease in lending in the field of industry and production by 273.3 million manat ($160.7 million) or 23 percent on annual basis. Lending to this sector amounted to 917.8 million manat ($539.8 million).

Distribution of the loan portfolio by sectors of the economy:

Economic Spheres:

Amount of loans, Jan.-July 2021

Amount of loans, Jan.-July 2020

Share, Jan.-July 2021 (%)

Share, Jan.-July 2020 (%)

Trade and services

2.5 billion manat ($1.5 billion)

2.3 billion manat ($1.3 billion)

16.7

16.3

Energy, chemistry and natural resources

748.5 million manat ($440.3 million)

562.2 million manat ($330.7 million)

4.8

3.9

Agriculture and processing

561.9 million manat ($330.5 million)

553.3 million manat ($325.4 million)

3.7

3.8

Construction and property

771.5 million manat ($453.8 million)

428.8 million manat ($252.2 million)

5

2.9

Industry and manufacturing sector

917.8 million manat ($539.8 million)

1.19 billion manat ($700 million)

6

8.2

Transport and communication

757.3 million manat ($445.4 million)

915.7 million manat ($538.6 million)

4.9

6.3

Households

7.4 billion manat ($4.3 billion)

6.5 billion manat ($3.8 billion)

48.6

45

The total volume of lending to the real sector amounted to 15.37 billion manat ($9.04 billion).

(1 USD = 1.7 AZN on Aug. 26)

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