BAKU, Azerbaijan, February 28. As of January 31, 2024, the number of loans issued in Azerbaijan's capital and provinces increased by 3.8 billion manat ($2.2 billion), or 19.81 percent, to 23.5 billion manat ($13.8 billion) over the same period in 2023, Trend reports.
As per the Central Bank of Azerbaijan (CBA), Baku issued loans
of 18.1 billion manat ($10.6 billion) during the specified period,
which is 3.31 times the total volume of loans given across the
country.
Credits in national currency in Baku were 13.5 billion manats ($7.9
billion), accounting for 75.05 percent of overall lending in
Baku.
The country's average annual interest rate was 12.58 percent,
whereas in Baku it was 11.1 percent.
Loan Distribution Table (as of January 31, 2024):
| Volume of lending (in AZN) | Average interest rate | Share of total deposits | |
| Azerbaijan | 23 566 362 985 ($13.8 billion) | 12,58% | 100,00% |
| Baku | 18 101 262 200 ($10.6 billion) | 11,10% | 76,81% |
| Economic areas, including: | 5 465 100 785 ($3.1 billion) | 23,19% | |
| Nakhchivan | 383 691 570 ($224.9 million) | 13,66% | 1,63% |
| Absheron-Khizi | 865 854 212 ($508.1 million) | 15,97% | 3,67% |
| Mountainous Shirvan | 161 114 410 ($94.5 million) | 19,72% | 0,68% |
| Ganja-Dashkasan | 709 449 173 ($416.4 million) | 16,76% | 3,01% |
| Karabakh | 405 029 910 ($237.9 million) | 19,36% | 1,72% |
| Gazakh-Tovuz | 440, 392, 350 ($258.4 million) | 18,46% | 1,87% |
| Guba-Khachmaz | 410 686 260 ($240.8 million) | 17,07% | 1,74% |
| Lankaran-Astara | 545 820 910 ($320.1 million) | 19,08% | 2,32% |
| Central Aran | 473 433 340 ($277.8 million) | 18,64% | 2,01% |
| Mil-Mugan | 250 486 730 ($146.8 million) | 18,93% | 1,06% |
| Shaki-Zagatala | 441 110 080 ($259 million) | 16,63% | 1,87% |
| East Zangezur | - | - | - |
| Shirvan-Salyan | 378 031 840 ($222 million) | 18,75% | 1,60% |
Meanwhile, the volume of loans issued in the capital and regions of Azerbaijan as of December 31, 2023, increased by 3.5 billion manat ($2 billion), or 18.31 percent, compared to the same period in 2022, amounting to 23.1 billion manat ($13.5 billion).
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