Azerbaijan-based banks restructured AZN 1.2B loan last year 

In connection with the coronavirus pandemic, Azerbaijani banks restructured nearly 52,000 loans in the amount of AZN 1.2 billion in 2020, Report informs, referring to the Central Bank of Azerbaijan (CBA).

According to the CBA, the business loan amounted to 87%, consumer lending accounted for 9%, and mortgage lending made up 4%.

Thanks to synchronized measures of the government and the regulator, the credit activity was prevented from sharply declining.

As of the end of the reporting period, the loan portfolio of the banks (excluding closed banks) amounted to AZN 14.2 billion. The mortgage portfolio rose 13%, the business loans portfolio remained unchanged, consumption loans dropped 6.3%. 60% or AZN 8.5 billion of the loan portfolio was related to business, 26% or AZN 3.7 billion to consumer lending, and 14% or AZN 2 billion to mortgage loans.