Lending to trade and services is growing in Azerbaijan

BAKU, Azerbaijan, May 15Trend: Lending to trade and services in Azerbaijan exceeded 2.56 billion manat as of early June 2021, which is 6.1 percent more than the same period last year.

This is reported by Trend with reference to the statistical report of the Central Bank (CBA).

According to the report, short-term loans accounted for 718.9 million manat, or 28.2 percent of the total lending volume. At the same time, loans in national currency accounted for 508.2 million manat, and in foreign currency – 210.7 million in manat equivalent.

Long-term loans accounted for 1.832 billion manat, or 71.8 percent of the total volume of loans issued. Loans in the national currency were issued in the amount of 1.211 billion manat, in foreign currency – 621.4 million in the equivalent.

During this period, loans in this area were mainly allocated to private institutions and mainly in national currency (1.719 billion manat, 67.4 percent of the total lending to the sector).

Note that the share of lending to trade and services in lending to the real sector amounted to 17 percent, having increased by 0.7 percent over the year.

(Author: Zeyni Jafarov. Editor: Konstantin Shapiro)

Twitter: @jafarov_zeyni

The article from the source


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