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Share of agricultural loans in Azerbaijan's total portfolio increase

Finance Materials 1 February 2023 16:21 (UTC +04:00)
Share of agricultural loans in Azerbaijan's total portfolio increase

BAKU, Azerbaijan, February 1. The volume of business loans in the agricultural field increased in Azerbaijan in 2022 and reached 22.5 percent of the total loan portfolio, said Director General of Azerbaijan's Central Bank (CBA) Togrul Aliyev at the Agribusiness Development Forum, Trend reports.

He noted that, in general, of the business loans issued to the agricultural sector, one-third were implemented at the expense of state funds, and two-thirds - at the expense of banks' own funds.

According to the CBA, the credit portfolio of Azerbaijani banks totaled 19.59 billion manat ($11.59 billion) as of December 31, 2022. In addition, out of the total loan portfolio, business loans accounted for 55.4 percent or 10.85 billion manat ($6.37 billion), which is 11.45 higher than in 2021.

The total assets of Azerbaijan's banks as of January 1, 2023, exceeded 47 billion manat ($27.6 billion), while total liabilities accounted for 41.4 billion manat ($24.3 billion), and the total capital equaled 5.6 billion manat ($3.2 billion). Assets, and liabilities as well as the capital of the banking sector increased by 22.34, 23.71, and 13.14 percent, respectively, compared to the same period in 2021.

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