BAKU, Azerbaijan, Dec. 27
By Nazrin Israfilova - Trend:
The volume of loans issued in the real estate sector in Azerbaijan rose from January through November 2021, Trend reports with reference to the Central Bank (CBA).
According to the CBA, this indicator exceeded 2.4 billion manat ($1.4 billion), up by 346 million manat ($203.5 million) or 16.57 percent compared to the first 11 months of 2020 (2.08 billion manat or $1.2 billion).
The short-term loans issued to legal entities operating in this sector, except for amounts issued by non-bank credit institutions and excluding problem loans, equaled 13.4 million manat ($7.8 million), of which 5.3 million ($3.1 million) were issued in manat, while 8.2 million manat ($4.8 million) - in foreign currency.
Long-term loans accounted for 256.9 million manat ($151.1 million). Loans in the amount of 8.6 million manat ($5 million) out of those long-term loans were issued in manat while 248.3 million manat ($146 million) - in foreign currency.
The share of lending to this sector in terms of lending to the real sector amounted to 14.6 percent, which is 0.4 percent more than in the same period of 2020.
(1 USD = 1.7 AZN on Dec. 27)