BAKU, Azerbaijan, Nov 1
By Natavan Rzayeva - Trend:
The volume of problem loans of individuals has grown from January through September 2021 by 5.4 times and reached 5.2 trillion soums ($487.2 million), Trend reports via the Central Bank of Uzbekistan.
Since the beginning of 2021, the share of problem loans in the banking sector has grown from 17 percent to 29 percent.
The volume of loans issued in Uzbekistan for nine months of 2021 amounted to 119.5 trillion soums ($11.1 billion), which is 32.8 percent more than in the same period last year. The main part of the funds 91 trillion soums($8.5 billion) (76 percent) was allocated to entrepreneurs (corporate clients), 66 trillion soums ($6.1 billion) of this amount were directed to long-term investment projects, the remaining 25 trillion soums ($2.3 billion) were allocated in the form of revolving loans to ensure the continuity of economic activities.
The highest indicator of problem loans in the banking system was recorded in July 2021 and amounted to 6.2 percent.
Problem loans mainly increased in the areas of transport and communications, agriculture, trade, and catering, as well as construction.