Azerbaijani banks up crediting in January
Azerbaijan, Baku, March 3 / Trend , N. Ismayilova/
In January 2008, Azerbaijani banks increased crediting by 0.5 percent, a 51.3-percent rise from 2008, a National Bank of Azerbaijan (NBA) source said.
As of Feb. 1, banks issued credit worth 7.201 billion manat compared to 4.758 billion manat for the same period last year. Statistics of overdue credit do not include loans from the Aqrarkredit non-bank credit organization.
Short-term credit composed 2.289 billion manat compared to 1.638 billion manat for the same period last year. As many as 42.4 percent of short-term credit and 41.6 percent of overdue credit were in hard currency.
Long-term credit totaled 4.911 billion manat compared to 3.120 billion manat for the same period last year. As many as 53.4 percent of long-term credit and 40 percent of overdue credit were in hard currency.
As of early February, two state-owned banks issued credits worth 3.114 billion manat. Private banks issued 3.903 billion manat in credit.
The credit portfolio of banks with foreign capital composed 1.975 billion manat.
On March 3, the official exchange rate is 0.8051 manat to $1.
Do you have any feedback? Contact our journalist at: [email protected]