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    Consumer lending continues to decline in Azerbaijan

    The volume of credits directed to the real estate since the beginning of the year grew by 11%

    Baku. 10 September. REPORT.AZ/ Downward trend in consumer lending in Azerbaijan, which began in February of this year continued in July. Report informs referring to the Central Bank of Azerbaijan Republic (CBAR), as of August 1 of this year, 38.5%, or 7 769.9 million manats of credit investments in the economy of the country is aimed at households. According to the information, but on a monthly basis there was observed a decrease of 1.46%, the volume of loans on an annualized basis increased by 11.22% since the beginning of the year by 0.5%.

    Among aimed at household loans 1 351 500 000 manats issued for the construction and purchase of real estate, including mortgage lending. The volume of these loans on a monthly basis decreased by 0.87%, since the beginning of the year grew by 10.86% ,on annual basis by 35.20%.

    Volume of credit investments in the economy of the country on August 1 of this year amounted to 20 187.5 million manats, of which 6.4% or 1 294 800 000 manats - loans in arrears. Thus, in July, for the first time in all year is observed a decline in the share of bad loans in the total volume of credit investments.

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