Azerbaijan, Baku, Jan. 7 / Trend , N.Ismayilova /
Azerbaijani banks increased lending to the Azerbaijani economy by 0.8 percent in November 2011 and by 7.5 percent compare to early 2011, the Central Bank of Azerbaijan (CBA) reported.
As of early December, the banks provided loans totaling 9.852.8 billion manat (including 6.271.6 billion manat in national currency and 3.581.1 billion manat in hard currency) compared to 9.776.2 billion manat (6.150.2 billion manat in national currency and 3.625.9 billion manat in hard currency) as of early November and 9.163.4 billion manat (5.865.3 billion manat and 3.298.1 billion manat) as of Jan.1, 2011.
Of the total portfolio, loans worth 636.7 million manat were overdue compared to 626.5 million manat as of Nov.1, about 492.9 million manat as of Jan.1, 2011. Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit.
Short-term loans as of early December amounted to 3.093.9 billion manat (including overdue loans worth 326.4 million manat) compared to 3.103.4 billion manat (including overdue loans worth 317.5 million manat) as of Nov. 1, about 2.567.1 billion manat (239.2 million manat) as of Jan.1, 2011.
In November, the amount of short-term credit in the economy decreased by 0.3 percent, but increased by 20.5 percent compared to early 2011. Some 36.5 percent short-term credit and 26.2 percent of overdue loans were in hard currency as of late November.
Long-term loans amounted to 6.758.9 billion manat (including overdue loans worth 310.3 million manat) compared to 6.672.7 billion manat (309 million manat) as of Nov.1, about 6.596.3 billion manat (235.3 million manat) as of Jan. 1, 2011.
In November, the amount of long-term loans increased by 1.3 percent, compared to early 2011 - by 2.5 percent. As of late November, some 36.3 percent of long-term loans and 28.8 percent of overdue loans were in hard currency.
As of early December, the only state bank of the country (the International Bank of Azerbaijan) granted loans totaling 3.272.3 billion manat with a specific weight of 33.2 percent, and private banks - 6.329 billion manat with a specific weight of 64.2 percent. The remaining 2.6 percent fall on the share of non-bank credit organizations, which received loans worth 251.5 million manat.
About 44 banks operate in Azerbaijan.
The official exchange rate is 0,7864 AZN/USD.