Azerbaijan, Baku, March.01 / Trend N.Ismayilova/
In January 2010 the banks increased lending to the economy of Azerbaijan by 0.3 percent but compared to the same period of 2009 by 17.1 percent, the Central Bank of Azerbaijan (CBA) said.
As of February 1, 2010 the banks provided loans totaling 8431.2 million manat (including 4923.2 million manat in national currency and 3507.9 million in hard currency) compared to 8407.5 million manat (4886.2 million manat in national currency and 3521.5 million manat in hard currency) to 2009, 7201.3 million manat (3610 million manat and 3590.7 million manat) as of 1 February 2009.
In January 2010, the share of loans provided in national currency was 58.4 percent, in foreign currency - 41.6 percent.
Of the total portfolio of loans, 331.4 million manat (3.9 percent) were overdue compared to 303.5 million manat (3.6 percent) as of 1 January, 176.5 million manat (2.45 percent) as of February 1, 2009. Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit.
Short-term loans as of late January amounted to 2349.6 million manat (including 169.1 million manat overdue loans) compared to 2359.9 million manat (including 158.2 million manat overdue loans) as of January 01, 2295.9 million manat (96.7 million manat) as of February 1, 2009. In January the amount of short-term credit in the economy increased by 0.4 percent but 2.3 percent compared to January 2009. As of late January, 37.7 percent of short-term loans and 40.4 percent of overdue credits fell on hard currency.
Long-term loans amounted to 6081.7 million manat ( including 162.3 million manat overdue loans) compared to 6047.5 million manat (including 145.4 million manat overdue loans) as of 1 January, 4911.7 million manat (69.3 million manat) as of February 1, 2009. In January the amount of long-term loans grew by 0.5 percent, compared to January 2009 - by 23.8 percent. As of late January, 43.1 percent of long-term loans and 32.1 percent of overdue loans accounted for hard currency.
As of late January 1, the only state bank of the country (the International Bank of Azerbaijan) granted loans totaling 3922.8 million manat with a specific weight of 46.5 percent (increased by 0.3 percent in January), and private banks - 4325.2 million manat with a specific weight of 51.3 percent (increased by 0.2 percent). The remaining 2.2 percent fall on the share of non-bank credit organizations, which provided loans of 183.2 million manat.