Azerbaijan, Baku, 9 January / Trend , N.Ismayilova /
In November 2009 the banks increased lending to the economy of Azerbaijan by 1.3 percent, since the beginning of the year - by 12.6 percent and annually - 17.6 percent, the Central Bank of Azerbaijan said.
As of December 1, 2009 the banks provided loans totaling 8064.6 million manat (including 4479.9 million manat in national currency and 3584.6 million in hard currency) compared to 7963.7 million manat (4431 million manat in national currency and 3532.7 million manat in hard currency) to 1 November, 7163.2 million manat (3649 million manat and 3514.2 million manat) as of 1 January 2009, and 6855.5 million manat (3552.4 million manat and 3303 million manat) as of December 1, 2008.
In November 2009, the share of loans provided in national currency was 64.8 percent, in foreign currency - 35.2 percent.
Of the total portfolio of loans, 272.9 million manat were overdue compared to 290 million manat as of 1 November, 159.8 million as of January 1, 2009 and 145.3 million manat as of December 1, 2008. Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit.
Short-term loans amounted to 2296.8 million manat (including 139.3 million manat overdue loans) compared to 2264.7 million manat (164.7 million) as of November 1, 2295.9 million manat (96.7 million manat) as of January 1, 2009. In November the amount of short-term credit in the economy increased by 1.4 percent, since the beginning of the year - 0.04 percent. As of November 1, 2009, 43 percent of short-term loans and 41.2 percent of overdue credits fell on hard currency.
Long-term loans amounted to 5767.8 million manat (131.9 million manat overdue loans) compared to 5699.1 million manat (including 125.3 million manat) as of 1 November, 4867.3 million manat (63.1 million manat) as of January 1, 2009. In November the amount of long-term loans grew by 1.4 percent, since the beginning of the year - by 17.1 percent. As of 1 November, 45 percent of long-term loans and 29.3 percent of overdue loans accounted for hard currency.
As of December 1, 2009 the only state bank of the country (the International Bank of Azerbaijan) granted loans totaling 3827.7 million manat with a specific weight of 47.5 percent (increased by 1.7 percent in November), and private banks - 4059.9 million manat with a specific weight of 50.3 percent (increased by 0.9 percent). The remaining 2.2 percent fall on the share of non-bank credit organizations, which provided loans of 177 million manat.
Official rate on January 9 is 0.8031 AZN/USD.