Azerbaijani banks increased crediting in November
Azerbaijan, Baku, Dec. 30/ Trend , N. Ismayilova/ In November the Azerbaijani banks increased crediting the economy by 2.4% and in January to November by 57.9 % as compared to the same period of the last year. Growth in bank crediting totaled to 1.4%.
As of 1 December 2008 the banks gave credits in amount of AZN 6855.5mln (including AZN 3552.4mln in national currency and AZN 3.303mln in hard currency) compared to AZN 4340.3mln (including AZN 2323.3mln in national currency and AZN 2.017mln in hard currency) as 1 December 2007. From the total portfolio, term of loans worth AZN 145.3mln was extended as compared to AZN 99.2mln in December 2007. Statistics of extended credits does not include loans of Aqrarkredit, non-bank organization.
Short-term credits were allocated in the amount of AZN 2.113mln (including AZN 88.2mln overdue credit) compared to AZN 1577.3mln (including AZN 67.9mln overdue loan) as of 1 December 2007. As of 1 December 38.9% of short-term loan and 41.6% of overdue loan was in hard currency.
The long-term crediting made up AZN 4742,5 mln (AZN 57.2 mln) as compared to AZN 2.763mln as of 1 December 2007, AZN 3.032.3mln (AZN 30.8mln) and AZN 2.294.8mln (AZN 28.8mln) respectively. During this period, 52.3% of long-term crediting and 44.1% of overdue debts fell on hard currency.
As of 1 December 2008, two state-owned banks allocated AZN 2.991,600 in credits (0.35% less than November) and private banks AZN 3.688.1mln (4.8%).
As of 1 October 2008 the credit portfolio of banks with foreign capital made up AZN 1.962mln, including AZN 297.7mln of credits fully by foreign banks (-7.4%).
Exchange rate for Dec. 30 is 0,801 AZN/USD.
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