Azerbaijan, Baku, June 6 / Trend , N. Ismayilova/
In April 2009, Azerbaijani banks increased crediting of economy by 0.92 percent and decreased by 12.35 percent in January-April and increased by 20.35 percent in annualized pace, a source in the Central Bank of Azerbaijan (NBA) said. Moreover, credit deposits make up 34 percent of GDP in May 1.
According to the CBA, as of May 1, banks issued credits worth 6,278.4 million manats (3,477.1 million manats in national currency and 3,042.2 million manats in hard currency) compared to 6,221.3 million manats to April 1 (3,472.2 million manats in national currency and 2,749.1 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 5,216.7 million manats (2,967.8 million manats and 2,248.9 million manats) on May 1, 2008.
As for May 1, 2009 the share of loans were granted in national currency was 55.4 percent (an increase compared with May 1, 2008 to 17.2 percent) in foreign currency - 44.6 percent (a 24.6-percent increase). Thus 28.4 percent of loans were issued in local currency accounted for by the International Bank of Azerbaijan (IBA). The IBA's share in loans in foreign currency is 53.7 percent.
As many as 200.8 million manats of lending out of the total portfolio are overdue as compared to 195.9 million manats on April 1, 159.8 million manats on Jan.1, 2009 and 108.1 million manats on May 1, 2008. Statistics of the overdue credits doesn't include analogous loans of non-bank credit organization Aqrarkredit.
Short-term credits made up 2,096.9 million manats (including 116.2 million manats of overdue loans) compared to 2,070.2 million manats (including 118.1 million manats of overdue loans) on April 1, 2,295.9 million manats (96.7 million manats of overdue loans) on Jan. 1 in 2009 and 1,834.6 million manats (69.6 million manats of overdue loans) on May 1, 2008. Volume of short-term loans in the economy increased by 1.3 percent in April, by 8.7 percent in January-April and 14.3 percent in the annualized pace. As of May 1, 2009, as many as 39.63 percent of short-term credits and 40.96 percent of overdue credits were in hard currency.
Long-term crediting made up 4,181.5 million manats (including 84.6 million manats of overdue loans) as compared to 4,151.1 million manats (including 77.7 million overdue loans) on April 1, 4,867.3 million manats (63.1 million manats) on Jan. 1, 2009 and 3.382 million manats (38.5 million manats) on May 1, 2008. Volume of long-term loans in the economy increased by 0.7 percent in April, by 14.14 percent in January-April and 23.6 percent in the annualized pace. As of May 1, 2009, as many as 41.12 percent of long-term credits and 36.05 percent of overdue credits were in hard currency.
Banks basically oriented on the period of 9-12 months, when issuing short-term loans in January-April 2009. Banks prefer long-term credit in term of 1-3 years.
According to the CBA, as of May 1, 2009, the only state bank in the country issued 2.418 million manats of credits with specific weight of 38.5 percent. Private banks issued credits worth 3,684.4 million manats with specific weight of 58.7 percent (increase by 0.63 percent as of March), the rest 2.8 percent accounts for non-bank loan organizations (they issued 176.1 million manats.
As of May 1, 2009, the credit portfolio of the banks with foreign investments made up 1.923 million manats (-0.01 percent) including 336.65 million manats credited by foreign banks.
Of the total lending to the country's economy, 20.1 percent falls to the trade and services (1263.8 million manat), 5.5 percent to energy (344.2 million manat), 5.6 percent - to agriculture (353.5 million manat), 10.1 percent - to the construction (646 million manat), 8 percent - to industrial production (499.7 million manat), 6.8 percent - transport and communications (424.3 million manat), 35.9 percent - to households (2251.5 million manat). The remaining share of lending accounted for community organizations, state and other sectors.
As a result, of the total volume of loans, 97.2 percent falls to the real sector of the economy, 2.8 percent - to the financial sector. Overall, 91 percent of loans were issued to private sector, nine percent - the state
On June 6, the official exchange rate is 0.8036 manat to $1.
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