BAKU, Azerbaijan, Aug. 26
By Zeyni Jafarov - Trend:
The volume of problem loans in Azerbaijan has decreased in the first seven months of 2021, Trend reports citing the statistical bulletin of the country's Central Bank (CBA).
According to the bulletin, this indicator amounted to 937.5 million manat ($551.4 million), down by 11.8 percent year on year.
From January to July 2021, the total volume of the loan portfolio of the banking sector and non-bank credit organizations (NBCO) increased by 5.4 percent over the year, amounting to 15.37 billion manat ($9.04 billion), the bulletin said.
At the same time, the share of state banks in issued loans equaled 2.87 billion manat or $1.69 billion (17.9 percent of the total portfolio), private banks - 12 billion manat or $7 billion (79.6 percent), NBCOs – 401.2 million manat or $236 million (2.5 percent).
Reportedly, the volume of loans issued in national currency as of early August 2021 amounted to 11.25 billion manat ($6.62 billion, growth of 13.5 percent over the year), and their share in the loan portfolio of banks made up 73.2 percent.
In the mentioned period, loans were issued in foreign currency in the amount of more than 4.12 billion manat ($2.42 billion, decrease of 11.9 percent on annual basis) with a specific weight of 26.8 percent of the banks' loan portfolio.
Short-term loans amounted to over 2 billion manat ($1.1 billion) in national and 714.2 million manat ($420.1 million) in foreign currency, while long-term loans in national and foreign currencies reached 9.2 billion manat ($5.4 billion) and 3.42 billion manat ($2 billion), added the bulletin.
(1 USD = 1.7 AZN on Aug.26)
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