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Troubled loans increases by13% in Azerbaijan

18 August 2011 11:33 (UTC +04:00)

Baku. Ali Ahmedov - APA-Economics. As of July 1, 2011, the volume of crediting in Azerbaijanâ€™s economy made AZN 8,955.9 mln, up AZN 205.5 mln compared to month ago. Total loan portfolio rose 1.3% year-on-year.

Central Bank of Azerbaijan says most of loan portfolio is consumer lending (AZN 2,945.8 mln or 32.9%). Of this, AZN 432 mln or 4.8% of total loan portfolio is mortgage loans. AZN 2,447.1 mln loans were given to trade and service sector made, AZN 697 mln â€“ to construction and property sector, AZN 531 mln â€“ to industry and production, AZN 469 mln â€“ to letters of credit, AZN 464.3 mln â€“ to transport and communication sector, AZN 434.6 mln â€“ tro agriculture an processing sector, AZN 304.5 mln â€“ to energy, chemistry and natural resources sector.

Consumer lending increased by AZN 73.6 mln (as well mortgage loan â€“ by AZN 48.4 mln), trade and service sector - by AZN 55.1 mln, energy and chemistry sector â€“ by AZN 14.3 mln, agriculture â€“ by AZN 5.7 mln, construction and property â€“ by AZN 25.8 mln, industry and production â€“ by AZN 21.6 mln, letters of - by AZN 1.4 mln, transport and communication dropped AZN 0.6 mln.

Share of troubled loans makes 6.2% in total loan portfolio. Sum of troubled loans rose AZN 6.1 mln to AZN 557.9 mln. The troubled loans have increased by 13.2% since the beginning of 2011, 36.5% - year-on-year.