BAKU, Azerbaijan, April 1. The total volume of loans issued by banks of Turkmenistan in 2022 amounted to 38.61 billion Turkmen manats ($11.03 billion), Trend reports with reference to the Central Bank of Turkmenistan.
According to the information, the average interest rate on loans in the specified period was 3.3 percent.
Of the total volume, loans were issued to legal entities last year in the amount of 34.29 billion Turkmen manats ($9.79 billion) with an average rate of 2.68 percent, of which 2.83 billion Turkmen manats ($808.5 million) were provided in December alone with an average rate of 5.78 percent.
Meanwhile, Turkmenistan's banks issued loans to individuals in the amount of 4.32 billion Turkmen manats ($1.23 billion) in 2022 with an average rate of 8.19 percent, of which 604.2 million Turkmen manats ($172.6 million) were provided in December with an average rate of 6.89 percent.
Turkmenistan's financial sector is constantly expanding. In particular, mobile applications are being introduced to pay for various services and goods, the number of transactions is growing, and payment methods are being offered through bank payment terminals.