Turkmen Central Bank Reveals Amount of National Currency Loans

BUSINESS TURKMENISTAN
Turkmen Central Bank Reveals Amount of National Currency Loans

As of July 1, 2021, the amount of loans issued by credit institutions of Turkmenistan to state-owned enterprises and organizations in national currency amounted to 52.923 billion manats, which is 14.6% more compared to same period of 2020. In April 2020, this figure was over 46.198 billion manats, according to the data of Central Bank of Turkmenistan.

As of July 1, 2021, the amount of loans issued by Turkmen credit institutions to non-state companies and organizations in national currency amounted to 6.7 billion manats, which is 36.4% more compared to same period of 2020. In April 2020, this figure stood at 4.913 billion manats.

In addition, as of July 1, 2021, the total amount of loans provided to citizens and non-state entrepreneurs in national currency amounted to 13.758 billion manats, which is 10.8% more compared to same period of 2020. In April 2020, this figure stood at 12.411 billion manats.

In July 2021, the total volume of loans issued by credit institutions of Turkmenistan to enterprises, organizations and citizens in national currency stood at 106.49 billion manats.

In early July of this year, President of Turkmenistan Gurbanguly Berdimuhamedov signed a Resolution on changing the organizational and legal structure of Türkmenbaşy State Commercial Bank to an open joint stock company.

The document authorizes the Ministry of Finance and Economy and the State Insurance Organization to participate as founders of Türkmenbaşy Joint-Stock Commercial Bank, with a 99% and 1% share in its authorized capital, respectively.