BAKU, Azerbaijan, June 25. The largest amount of loans issued in Azerbaijan as of June 1, 2023, fell on households (58.1 percent of total lending), Trend reports.
According to the Central Bank of Azerbaijan (CBA), in the reporting period, loans granted to households grew by 2.67 billion manat ($1.57 billion), or 27.67 percent year on year, from 9.68 billion manat ($5.69 billion) to 12.36 billion manat ($7.27 billion).
Meantime, lending to trade and services increased by 218.3 million manat ($128.4 million) or 6.95 percent in a year, up to 3.3 billion manat ($1.9 billion) against 3.1 billion manat ($1.8 billion). The share of the field of trade and services in the total volume of lending amounted to 15.8 percent.
The loan portfolio distribution by economic sectors:
|
Economic sector: |
Loan volume (May 2023) |
Loan volume (May 2022) |
Share (%), May 2023 |
Share (%), May 2022 |
|
Trade and services |
3.3 billion manat ($1.9 billion) |
3.1 billion manat ($1.8 billion) |
15.8 |
16.9 |
|
Energy, chemistry, and natural resources |
697 million manat ($410 million) |
712.9 million manat ($419.3 million) |
3.2 |
3.8 |
|
Agriculture and processing |
539.1 million manat ($317.1 million) |
597.6 million manat ($3451.5 million) |
2.5 |
3.2 |
|
Construction and property |
1.1 billion manat ($650 million) |
1.09 billion manat ($640 million) |
5.2 |
5.9 |
|
Industry and manufacturing sector |
1.03 billion manat ($610 million) |
992.9 million manat ($584.06 million) |
4.9 |
5.3 |
|
Transport and communication |
860.1 million manat ($505.9 million) |
761.7 million manat ($448.06 million) |
4.0 |
4.1 |
|
Households |
12.36 billion manat ($7.2 billion) |
9.6 billion manat ($5.6 billion) |
58.1 |
52.1 |
As of May 1 this year, loans granted to households amounted to 12.08 billion manat ($7.1 billion).
Lending to the real sector of the Azerbaijani economy rose by 14.76 percent, or 2.6 billion manat ($1.56 billion) as of April 1, 2023, compared to the same period in 2022, from 18 billion manat ($10.5 billion) to 20.6 billion manat ($12.1 billion).