Azerbaijan, Baku,7 November/ Trend , corr N. Ismayilova/ In September the Azerbaijani banks increased crediting the economy by 2.3% and in January to September by 75.1% as compared to the same period of the last year. Growth in bank crediting totaled to 1.5%.
As of 1 October 2008 the banks gave credits in amount of AZN 6.604.7mln (including AZN 3.648.1mln in national currency and AZN 2.956mln in hard currency) compared to AZN 3771.3mln (including AZN 2101.7mln in national currency and AZN 1669.5mln in hard currency) as 1 October 2007. From the total portfolio, term of loans worth AZN 139.3mln was extended as compared to AZN 96.3mln in October 2007. Statistics of extended credits does not include loans of Aqrarkredit, non-bank organization.
Short-term credits were allocated in the amount of AZN 2.039.1mln (including AZN 92.7mln overdue credit) compared to AZN 1.4764mln (including AZN 67.5mln overdue loan) as of 1 October 2007, AZN 1.649.5mln (including AZN 69.5mln of overdue loan) as of 1 January 2008 and AZN 1.476.4mln (including AZN 67.5mln of overdue loan) as of 1 October 2007. As of 1 October 30.84% of short-term loan and 45.7% of overdue loan was in hard currency.
The long-term crediting made up AZN 4.565.6mln (AZN 46.5mln) as compared to AZN 2.294.8mln as of 1 October 2007, AZN 3.032.3mln (AZN 30.8mln) and AZN 2.294.8mln (AZN 28.8mln) respectively. During this period, 51% of long-term crediting and 53.1% of overdue debts fell on hard currency.
As of 1 October, 2008 two State banks allocated AZN 2.911.9mln in credits (3.9% less than September) and private banks AZN 3.533.1mln (1.1%).
As of 1 October 2008 the credit portfolio of banks with foreign capital made up AZN 1.962mln, including AZN 321mln of credits fully by foreign banks (1.7%).
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