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Azerbaijan observes decline in bank loans

Azerbaijan observes decline in bank loans

10 May 2013 14:29 (UTC +04:00)

Central Bank says the loan portfolio in the bank sector dropped AZN 253.1 mln or 19.5% in February to AZN 12,703.5 mln. Though, the loan portfolio soared AZN 250.3 mln to AZN 12,953.8 mln in March, but it is down from January.

Totally, the loan portfolio has risen 1.8% since early year, 26.2% - year-on-year.

During the first quarter, the loans given to trade and service sector slipped 21%, energy chemistry and natural resources – 20.4%, industry and production – 12.2%. The loans for agriculture increased by 11%, consumption loans – 34%, construction and property loans – 38.6%.

Troubled loans made AZN 760.8 mln or 5.87% of total loan portfolio. The troubled loans rose 14.7% year-on-year.

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