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Largest share of loans issued in Azerbaijan accounts for household

Finance Materials 28 February 2022 16:57 (UTC +04:00)

BAKU, Azerbaijan, Feb. 28

By Nazrin Israfilova – Trend:

The largest share of loans issued in Azerbaijan fell on households in January 2022, making up 50.8 percent of total lending, Trend reports citing the Central Bank of Azerbaijan (CBA).

During the reporting period, this indicator increased by 1.98 billion manat ($1.16 billion), or 29.20 percent, from 6.78 billion ($3.99 billion) to 8.76 billion manat ($5.15 billion).

According to the CBA, lending to the trade and services sector over the year rose by 364 million manat ($214.2 million), or 14.2 percent, up to 2.97 billion manat ($1.7 billion) compared to 2.60 billion manat ($1.5 billion) in January 2021. The share of trade and services totaled 17.2 percent in the overall volume of lending.

Distribution of the credit portfolio by sectors of the economy (in million manat):

Sectors of economy:

Loans volume, 2022 (January)

Loans volume, 2021 (January)

Share (percent), 2022

Share (percent), 2021

Trade and services

2.971.1 billion manat ($1.7 billion)

2.607.3 billion manat ($1.5 billion)

17.2

17.9

Energy, chemistry, and natural resources

737.8 million manat ($434.2 million)

771 million manat ($453.8 million)

4.3

5.3

Agriculture and processing

595.8 million manat ($350.6 million)

573 million manat ($337.2)

3.5

3.9

Construction and property

910.4 million manat ($535.8 million)

527.1 million manat ($310.2 million)

5.3

3.6

Industry and manufacturing sector

959.8 million manat ($564.9 million)

981.6 million manat ($577.7 million)

5.6

6.7

Transport and communication

744.6 million manat ($438.2 million)

832.2 million manat ($489.8 million)

4.3

5.7

Household

8.76 million manat ($5.15 million)

6.78 million manat ($3.99 billion)

50.8

46.1

In general, lending to the real sector of the Azerbaijani economy grew by 18.2 percent, or 2.65 billion manat ($1.5 billion) in January 2022 compared to the same period in 2021, from 14.587 billion ($8.58 billion) to 17.242 billion manat ($10.1 billion).

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