BAKU, Azerbaijan, Feb. 23
By Nazrin Israfilova – Trend:
The volume of loans issued for the real estate industry in Azerbaijan in January 2022 grew, Trend reports citing the Central Bank of the country (CBA).
According to the CBA, this figure amounted to almost 2.5 million manat ($1.4 million), up by 379.4 million manat ($223.1 million), or 17.8 percent compared to last year’s January (2.1 million manat or $1.2 million).
In January this year, short-term loans issued to legal entities operating in the real estate sector, excluding non-bank credit organizations and problem loans, equaled 13.7 million manat ($8.06 million), out of which 4.3 million manat ($2.5 million) were issued in the national currency, and 9.4 million manat ($5.5 million) – in foreign currency.
Some 266.4 million manat ($156.7 million) of the lending for the above legal entities accounted for long-term loans. The loans worth 6.8 million manat ($4 million) out of that volume were issued in manat while 256.2 million manat ($150.7 million) – in foreign currency.
The share of lending to the real estate industry in crediting to the real sector of Azerbaijan's economy totaled 14.5 percent in January 2022, remaining unchanged compared to the same month in 2021.