Azerbaijani banks increase lending by 9 percent
Azerbaijan, Baku, Feb. 1 / Trend N.Ismayilova /
Azerbaijani banks increased lending to the economy of Azerbaijan by 0.8 percent in December 2010 and by 9 percent in 2010.
As of late December, 2010 the banks provided loans totaling 9.163.4 million manat (including 5.865.3 million manat in national currency and 3.298.1 million in hard currency) compared to 9.091.7 million manat (5.865.3 million manat in national currency and 3.298.1 million manat in hard currency) as of Dec. 1, and 8.407.5 million manat (4.886.2 million manat and 3.521.3 million manat) as of Jan.1, 2009.
In December, the share of loans provided in national currency was 64 percent, in foreign currency - 36 percent.
Of the total portfolio, loans worth 492.9 million manat were overdue compared to 458.1 million manat as of Dec.1, about 303.5 million manat as of Jan.1, 2010. In December the amount of overdue loans and debts rose by 7.6. Rise was 62.4 percent compared to January 2010. Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit.
Short-term loans as of late December amounted to 2.567.1 million manat compared to 2.546 million manat as of late November, about 2.359.9 million manat as of Jan.1, 2010. In December the amount of short-term credit in the economy increased by 0.8 percent but 8.8 percent compared to early 2010
Long-term loans amounted to 6.596.3 million manat compared to 6.545.8 million manat as of Dec. 1, about 6.047.5 million manat as of Jan.1, 2010. In December the amount of long-term loans increased by 0.8 percent, compared to early 2010 - by 9.1 percent.
As of late December, the only state bank of the country (the International Bank of Azerbaijan) granted loans totaling 3.901.9 million manat with a specific weight of 42.6 percent (decreased by 0.2 percent in December), and private banks - 5.069.9 million manat with a specific weight of 55.3 percent (increased by 1.6 percent). The remaining 2.1 percent fall on the share of non-bank credit organizations, which received loans worth 191.6 million manat.