Lending Level Reduced for All Positions

Banks and non-bank institutions, whether private or state-run, have reduced the level of their business lending.

According to the statistics of the Central Bank of Azerbaijan (CBA), by September 1 they invested in the local economy 16 billion 839.7 million AZN (net minus of 22.5% since the beginning of the year, without taking into account two-time drawdown of the manat as a result of last year's devaluation).

The share of overdue loans is 9.45% of the total loan portfolio, or 1 billion 592.9 million AZN (+ 5.6% YTD).

By September 1 state banks issued 5 billion 512.6 million AZN and private banks issued 10 billion 816 million AZN (both -22%), with a small proportion of non-bank credit organizations.

Issued in AZN was 8 billion 755.1 million manat (minus 20.4%), in a foreign currency – AZN 8 billion 84.5 million (minus 24.7%).

Traditional "champion" in lending was the household - 6 billion 272.7 million manats, with the share in the portfolio of 32.3% (minus 8% to the beginning of the year), that is, people that repay consumer credits do not take extra money, in contrast to previous years.

Next comes trade and services - 2 billion 504 million manats (14.9% of the total portfolio), construction and real estate - 2 billion 21.1 million manats (12%), industry and the manufacturing sector - 1 billion 321.4 million manats (7.8%), transport and communications - 1 billion 175.8 million manats (7%). Agriculture and processing was invested 400.7 million manats (2.4%), energy, chemistry and natural resources - 370.3 million manats (2.2%), etc. --17D-

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