Private Azerbaijani Banks Increased Credits in Feb
Azerbaijan, Baku, 11 April /corr. Trend I.Khalilova / In Feb, the Azerbaijani banks increased crediting the economy by 1.1% and by 80.7% as compared to the same period of the last year.
As of 1 March 2008 the banks gave credits in amount of AZN 4812.2mln (including AZN 2653.1mln in national currency and AZN 2159.1mln in hard currency), as compared to AZN 2663.5mln (including AZN 1313.4mln in national currency and AZN 1350.1mln in hard currency) as on 1 March 2007.
Short-term credits were allocated in the amount of AZN 1723.4mln (including AZN 72.7mln overdue credit) compared to AZN 1299.1mln (including AZN 105.2mln over due loan) as on 1 March 2007. During the reported period, 35.7% of short-term crediting and 49.2% of overdue debts fell on hard currency. The long-term crediting made up AZN 3088.8mln (AZN 35.4mln) compared to AZN 1364.4mln (AZN 24.7mln) as on 1 March 2007. During this period, 50% of long-term crediting and 64.7% of overdue debts fell on hard currency.
As on 1 March 2008, two State banks allocated AZN 1877.7mln in credits (-4.8% in February) and private banks- AZN 2806.3mln (5.6%).
As of 1 March 2008, the credit portfolio of banks with foreign capital made up AZN 1592.5mln (6.7%), including AZN 236.6mln of credits fully by the foreign banks (6%).
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