Azerbaijan, Baku, Nov. 7 / Trend , N. Ismayilova/
In September 2009, Azerbaijani banks increased crediting of economy by 2 percent, 8.6 percent compared to early 2009 and 17.8 percent in annualized pace, a source in the Central Bank of Azerbaijan (NBA) said.
According to the CBA, as of Oct. 1, banks issued credits worth 7780.8 million manats (4310.2 million manats in national currency and 3470.6 million manats in hard currency) compared to 7629.8 million manats to Sept. 1 (4245.7 million manats in national currency and 3384.2 million manats in hard currency) and 7163.2 million manats (3.649 million in national and 3514.2 million in hard currency) on Jan.1, 2009 and 6604.7 million manats (3648.1 million manats and 2956.6 million manats) on Oct. 1, 2008.
As for Oct. 1, 2009 the share of loans, granted in national currency was 55.4 percent and in foreign currency - 44.6 percent.
As many as 309.4 million manats of lending out of the total portfolio are overdue as compared to 274.9 million manats on Sept. 1, 159.8 million manats on Jan.1, 2009 and 139.3 million manats on Oct. 1, 2008. Statistics of the overdue credits doesn't include analogous loans of non-bank credit organization Aqrarkredit.
Short-term credits made up 2159.1 million manats (including 181.7 million manats of overdue loans) compared to 2133.3 million manats (including 151.4 million manats of overdue loans) on Sept. 1, 2295.9 million manats (96.7 million manats of overdue loans) on Jan. 1 in 2009. Volume of short-term loans in the economy increased by 1.2 percent in September and decreased 6 percent compared to early 2009. As of Oct. 1, 2009, as many as 42.9 percent of short-term credits and 42.3 percent of overdue credits were in hard currency.
Long-term crediting made up 5621.8 million manats (including 127.7 million manats of overdue loans) as compared to 5496.6 million manats (including 123.4 million overdue loans) on Sept. 1, 4867.3 million manats (63.1 million manats) on Jan. 1, 2009. Volume of long-term loans in the economy increased by 2.3 percent in September and 15.5 percent compared to early 2009. As of Oct. 1, 2009, as many as 45.3 percent of long-term credits and 29.4 percent of overdue credits were in hard currency.
According to the CBA, as of Oct. 1, 2009, the only state bank in the country (International Bank of Azerbaijan) issued 3705.1 million manats of credits with specific weight of 47.6 percent (a 2-percent increase from September). Private banks issued credits worth 3893.7 million manats with specific weight of 50 percent (increase by 2.1 percent as of September), the rest 2.3 percent accounts for non-bank loan organizations (they issued 182 million manats).
On Nov. 7, the official exchange rate is 0.8031 manat to $1.
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