...

Azerbaijan sees decrease in volume of loans for industry, manufacturing sector in 11M2021

Finance Materials 28 December 2021 09:12 (UTC +04:00)
Azerbaijan sees decrease in volume of loans for industry, manufacturing sector in 11M2021

BAKU, Azerbaijan, Dec. 28

By Nazrin Israfilova – Trend:

The volume of loans issued to Azerbaijan’s industry and manufacturing sector in 11M2021 decreased by 450.6 million manats ($265.2 million), or 32.77 percent compared to the same period last year, up to 924.6 million manats ($544.1 million), Trend reports with reference to the Central Bank of Azerbaijan (CBA).

According to the CBA, during the reporting period, the volume of loans issued to this sector amounted to 5.6 percent of the total lending to the real sector (decline by 3.8 percentage points over the year).

In general, lending to the real sector of the economy of Azerbaijan for 11 months of this year increased by 13.75 percent, or 2.01 billion manats ($1.2 billion) compared to the same period last year – up to 16.7 billion manats ($9.8 billion).

Short-term loans in this sector, excluding those issued by non-bank credit organizations and excluding problem loans, amount to 162 million manats ($95.3 million), of which 123.2 million ($72.5 million) were issued in manat and 38.8 million ($22.8 million) in foreign currency.

Long-term loans accounted for 762.6 million manats ($448.8 million), or 82.47 percent of the total volume of loans issued to the industry and production sector. Of these, loans in the amount of 551 million ($324.3 million) were issued in manats, in foreign currency - 211.6 million ($124.5 million) in manat equivalent.

Tags:
Latest

Latest