BAKU, Azerbaijan, Nov. 29
By Nazrin Israfilova – Trend:
The volume of loans issued to the industry and manufacturing sector of Azerbaijan in 10M2021 decreased by 290.4 million manats ($170.9 million), or 23.8 percent compared to the same period last year – up to 931.1 million manats ($547.9 million), Trend reports with reference to the Central Bank of Azerbaijan (CBA).
According to the CBA, in the reporting period, the volume of loans issued to this sector amounted to 5.8 percent of the total lending to the real sector (a decline over the year by 2.5 percent).
In general, lending to the real sector of the economy in 10M2021 increased compared to the same period last year by 1.63 billion manats ($959.1 million) or by 11.02 percent - up to 16.41 billion manats ($9.6 billion).
Also, short-term loans in this sector, excluding those issued by non-bank credit institutions and excluding problem loans, equaled 181.4 million manats ($106.7 million), or by 19.4 percent of the total volume of loans issued to the industry and production sector, of which 128.5 million ($75.6 million) were issued in manat, and 53 million ($31.2 million) in foreign currency.
In addition, long-term loans accounted for 749.7 million manats ($441.1 million), or 80.6 percent of the total volume of loans issued to the industry and production sector. Of these, loans in the amount of 536.7 million ($315.8 million) were issued in manat, in foreign currency - 213 million ($125.3 million) in manat equivalent.