Azerbaijan, Baku, 28 August /corr. Trend I.Khalilova / In July the Azerbaijani banks increased crediting the economy by 3.2% and in January to July and by 84.7% as compared to the same period of the last year, a source stated at the National Bank of Azerbaijan (NBA).
As of 1 August 2008 the banks gave credits in amount of AZN 6361.5mln (including AZN 3448.6mln in national currency and AZN 2912.9mln in hard currency) compared to AZN 3443.9mln (including AZN 1838.2mln in national currency and AZN 1605.7mln in hard currency) as 1 August 2007.
Short-term credits were allocated in the amount of AZN 1930.6mln (including AZN 68.9mln overdue credit) compared to AZN 1335mln (including AZN 77.5mln over due loan) as of 1 August 2007. During the reported period, 30.6% of short-term crediting and 42.8% of overdue debts fell on hard currency. The long-term crediting made up AZN 4430.9mln (AZN 40.4mln) compared to AZN 2108.9mln (AZN 30.2mln) as of 1 August 2007. During this period, 52.4% of long-term crediting and 59.4% of overdue debts fell on hard currency.
As of 1 August 2008 two State banks allocated AZN 2814.5mln in credits and private banks AZN 3387.2mln.
As of 1 August 2008 the credit portfolio of banks with foreign capital made up AZN 1917.6mln, including AZN 303.7mln of credits fully by foreign banks.
The official exchange rate on 28 August is 0.8132 AZN/USD.
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