In January Azerbaijanis Banks Increased Crediting Economy
Azerbaijan, Baku, 1 March /corr. Trend I.Khalilova / In January the Azerbaijani banks increased crediting the economy by 1.6%, but as compared to the same period of the last year by 90.3%, a source at National Bank of Azerbaijan (NBA) stated.
As of 1 February 2008 the banks gave credits in amount of AZN 4758.2mln (including AZN 2546.9mln in national currency and AZN 2211.3mln in hard currency) compared to AZN 2500.9mln (including AZN 1207.9mln in national currency and AZN 1293mln in hard currency) as 1 February 2007.
The statistics of the credits do not take into consideration the data of non-banking credit organization Aqrarkredit.
Short-term credits were allocated in the amount of AZN 1638.1mln (including AZN 66.3mln overdue credit) compared to AZN 1227.8mln (including AZN 80.4mln over due loan) as 1 February 2007.
During the reported period, 36.4% of short-term crediting and 52% of overdue debts fell on hard currency. The long-term crediting made up AZN 3120.1mln (AZN 33.3mln) compared to AZN 1273.1mln (AZN 23.7mln) as of 1 February 2007. During this period, 51.8% of long-term crediting and 68.2% of overdue debts fell on hard currency.
As of 1 February 2008 two State banks allocated AZN 1972.1mln in credits (-0.9% in January) and private banks AZN 2658mln (3.7%).
As of 1 February 2008 the credit portfolio of banks with foreign capital made up AZN 1492.9mln (3.8%), including AZN 223.2mln of credits fully by foreign banks (3.2%).