External borrowing of Azerbaijan's banking sector totals over $476mln in first half year

Business Materials 20 September 2011 19:35

Azerbaijan, Baku, Sept. 20 /Trend, N.Ismayilova/

In first half of 2011, the share of direct state and state-guaranteed loans attracted in the private sector, deposits and other investments made up 50 percent of total foreign investment in Azerbaijan, said the balance of payments posted on the website of the Central Bank of Azerbaijan on Tuesday.

Total investments amounted to $2.001.4 billion or 13.3 percent less than the same period of 2010.

34.3 percent ($607.3 million) of loans was attracted directly by the state and under state guarantee. The share of unsecured loans accounts for $1.165.3 billion (65.7 percent).

Of unsecured loans, $476.4 million was attracted by banks, $402.6 million - oil and gas sector, $286.3 million - other enterprises and companies.

Of the total amount of previously attracted loans, $1.182.1 billion was repaid. 50 percent ($590.8 million) of repaid loans accounts for the banking system, 10.5 percent ($124.1 million) - state and state-guaranteed loans, 24.4 percent ($288 million) - oil and gas sector, 15.1 percent ($179.2 million - other enterprises and companies.