Azerbaijan, Baku, Feb10 / Trend corr N. Ismayilova / In December 2008, Azerbaijani banks increased crediting of economy by 4.5 percent or by 53 percent in entire 2008. In December, 2007, crediting of economy upped by 7.9 percent, a source in the National Bank of Azerbaijan (NBA) said on Feb.10.
According to the NBA, as of Jan.1, banks issued credits worth 7,163.2 million manats (3,649 million manats in national currency and 3,514.2 million manats in hard currency) compared to 6,855.5 million manats (3,552.4 million manats in national currency and 3,303 million manats in hard currency) on Dec.1 and 4,681.8 million manats (2,513.7 million in national and 2,168.1 million in hard currency) on Jan.1, 2008.
As many as 159.8 million manats of lending out of the total portfolio are overdue as compared to 145.3 million manats on Dec.1 and 100.3 million manats on Jan.1, 2008. Statistics of the overdue credits doesn't include analogous loans of non-bank credit organization Aqrarkredit.
As of Jan.1, 2009, short-term credits made up 2,392.6 million manats (including 96.7 million manats of overdue loans) compared to 2,201.2 million manats (including 88.2 million manats of overdue loans) on Dec.1, 2008. As of Jan.1, 2009, as many as 39.6 percent of short-term credits and 42.1 percent of overdue credits were in hard currency.
Long-term crediting made up 4,930.4 million manats (including 63.1 million manats of overdue loans) as compared to 4,799.7 million manats (including 57.2 million overdue loans) on Dec.1 and 3,063.1 million manats (including 30.8 million manats of overdue loans) on Jan.1, 2008. As of Jan.1, 2009, as many as 52.02 percent of long-term credits and 41.04 percent of overdue credits were in hard currency.
According to the NBA, as of Jan.1, 2009, the national bank, the only state bank in the country, issued 3,027.5 million manats of credits with specific weight of 42.3 percent. Private banks issued credits worth 3,961 million manats with specific weight of 55.3 percent. As of Jan.1, 2009, the credit portfolio of the banks with foreign investments made up 2,024.9 million manats (28.3 percent) including 379.9 million manats (5.3 percent) credited by foreign banks.
The official currency rate of $1 is 0.8077 manats on Feb.10.
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