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Azerbaijan decreases lending for transport, communications sector

Finance Materials 23 February 2022 13:38 (UTC +04:00)
Azerbaijan decreases lending for transport, communications sector

BAKU, Azerbaijan, Feb. 23

By Nazrin Israfilova - Trend:

The volume of loans issued to the transport and communications sector in Azerbaijan in January 2022 has decreased, Trend reports citing the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure amounted to 744.6 million manat ($438 million), down by 87.6 million manat ($51.5 million) or 10.6 percent, compared to January 2021 (832.2 million manat or $489.5 million).

In the first month of this year, the share of the transport and communications sector in the total lending to the real sector was 4.3 percent (a decrease of 1.4 percent on annual basis).

Meanwhile, total lending to the real sector of the domestic economy exceeded 17.2 billion manat ($10.1 billion), which is 2.6 billion manat ($1.5 billion), or 18.2 percent more than in last year’s January (14.5 billion manat or $8.5 billion).

Besides, in January 2022, the lending of legal entities in the transport and communications sector decreased by 90.3 million manat ($53.1 million) or 10.1 percent, - from 831.5 million manat or $489.1 million (recorded in January 2021) to 741.2 million manat ($436 million).

At the same time, the volume of short-term loans issued to legal entities in the mentioned sector, excluding loans issued by non-bank credit organizations and problem loans, amounted to 105.9 million manat ($62.3 million), or 14.2 percent of the total volume of loans issued to the sector. Of these, 37.3 million manat ($21.9 million) accounted for loans in manat currency and 68.7 million manat ($40.4 million) - in foreign currency.

Some 635.3 million manat ($373.7 million) accounted for long-term loans for the legal entities, which is 85.8 percent of the total volume of loans issued to the transport and communications sector. Of these, 137.2 million manat ($80.7 million) accounted for loans in national currency and 498.1 million manat ($293 million) in foreign currency.

(1 USD = 1.7 AZN on Feb. 23)

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