Azerbaijan, Baku, May 8 / Trend , N. Ismayilova/
In March 2009, Azerbaijani banks increased crediting of economy by 7.4 percent or by 13.1 percent in the first quarter of the year and by 26.1 percent in entire 2009. a source in the Central Bank of Azerbaijan (NBA) said.
According to the CBA, as of April 1, banks issued credits worth 6,221.3 million manats (3,472.2 million manats in national currency and 2,749.1 million manats in hard currency) compared to 6,692.5 million manats to March 1 (3,553.6 million manats in national currency and 3.139 million manats in hard currency) and 7,163.2 million manats (3.649 million in national and 3,514.2 million in hard currency) on Jan.1, 2009 and 4,932.1 million manats (2,763.3 million manats and 2,168.8 million manats) on April 1, 2008.
As many as 195.9 million manats of lending out of the total portfolio are overdue as compared to 183.4 million manats on March 1, 159.8 million manats on Jan.1, 2009 and 102.8 million manats on April 1, 2008. Statistics of the overdue credits doesn't include analogous loans of non-bank credit organization Aqrarkredit.
Short-term credits made up 2,070.2 million manats (including 118.1 million manats of overdue loans) compared to 1,719.2 million manats (including 66.3 million manats of overdue loans) on April 1, 2008. As of April1, 2009, as many as 38.8 percent of short-term credits and 37.1 percent of overdue credits were in hard currency.
Long-term crediting made up 4,650.2 million manats (including 77.7 million manats of overdue loans) as compared to 3,212.9 million manats (including 36.5 million overdue loans) on April 1, 2008. As of March 2009, as many as 41.85 percent of long-term credits and 35.91 percent of overdue credits were in hard currency.
According to the CBA, as of April 1, 2009, the only state bank in the country issued 2,376.6 million manats of credits with specific weight of 38.2 percent. Private banks issued credits worth 3,661.2 million manats with specific weight of 58.8 percent (increase by 4.2 percent as of March), the rst 2.9 percent accounts for non-bank loan organizations (they issued 183.5 million mnats (+0.2 percent).
As of April 1, 2009, the credit portfolio of the banks with foreign investments made up 1,923.2 million manats (-2.6 percent) including 330.52 million manats credited by foreign banks.
On May 8, the official exchange rate is 0.8035 manat to $1.
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