BAKU: The volume of loans issued to the government institutions in early November this year amounted to 800,000 Manat ($470,588) in Azerbaijan according to statistics issued by the Central Bank of Azerbaijan (CBA) on Friday.
According to the CBA, this figure is by 400,000 manat that’s $23,529 (twofold) more compared to the same period of last year. The lending indicator in this sector has remained unchanged since early May 2020.
The biggest share of lending in the real sector accounted for the household sector, amounting to 45.8 percent or 6.8 billion manat ($4 billion) of the total volume of loans.
The volume of loans issued to other sectors in early November 2020 amounted to 746.4 million manat ($439.05 million), which is 34.1 percent, or 189.7 million manat ($111.6 million) less than in the reporting period of last year. The share of lending to these sectors in lending to the real sector was five percent, which is by 1.1 percentage points more than in the same period of last year.
In general, the volume of lending to the real sector as of November 1, 2020 amounted to 14.8 billion manat ($8.7 billion), which shows an annual increase of 340.1 million manat ($200.05 million) or 2.35 percent. In the same approach CBA announced on Friday to hold a deposit auction for banks on December 14, 2020, to attract 200 million manat ($117.6 million) for a period of 14 days. This amount may increase compared to the amount declared at the auction by no more than 20 percent. The auction will be held on the Bloomberg trading platform in the format of a hybrid auction from 11:00 to 11:15 GMT+4. The interest rate corridor on the funds to be raised at the auction on December 14 was set within the range of 6.01 – 6.49 percent. At a deposit auction on December 7, 2020, the Central Bank attracted 100 million manat ($58.8 million). –PNP
