According to the Central Bank of Azerbaijan (CBA), credit institutions of Azerbaijan in the aggregate issued 15.82 billion manat of consumer and business loans with a specific weight of overdue loans at 8.7% or AZN 1 billion 375.6 million by November 1.
According to official statistics, a month's loan portfolio "lost" almost a billion in the national currency (by October 1, it was equal to AZN 16 billion 785.1 million with overdue AZN 1 billion 597.3 million).
The loan portfolio in the national currency by November 1 made up 53.8% or AZN 8 billion 509.5 million with overdue 632.3 million manat or 7.4%. Overdue loans in foreign currency made up AZN 743.3 million, or 10.2%.
Thus, the share of overdue loans is growing. Last year, due to the devaluation it rose from 5.3% in 2014 to 6.9%, or AZN 1 billion 508.5 million. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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