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More than 87 per cent of bank loans fall to the Baku area

Business Materials 7 September 2012 12:23

Azerbaijan, Baku, Sept 7 /Trend A.Hasanov/

Loans issued to the population in the regions of Azerbaijan amounted to 1392.5 million manat, or 12.86 per cent of the total loan portfolio of banks at the beginning of August, the Central Bank (CBA) said on Friday.

According to the CBA the banks provided loans worth 10.826.41 million manat, 7.183.88 million (66.35 per cent) in national currency and 3.642.53 million (33.65 per cent) in hard currency.

In Baku, the figure was 9.433.860 million manat, where 6.122.930 million manat accounts for loans in local currency.

The average interest rate on loans in August was 15.7 per cent whilst Baku was 15 per cent.

The volume of lending in the Absheron economic region amounted to 330.31 million manat at an average rate of 18.2 per cent, Aran - 302.87 million manat - the rate of 22.6 per cent, the Gorno-Shirvan - 33.81 million manat - the rate of 21.5 per cent , Ganja-Gazakh - 303.24 million manat - 20.8 per cent, Guba-Khachmaz - 121.57 million manat - 20 per cent, Lankaran - 122.34 million manat - 24.3 per cent, Sheki-Zagatala - 84.58 million AZN - 23.4 per cent, Upper Karabakh - 14.05 million manat - 22.5 percent, Kalbajar, Lachin - 2.35 million manat - the rate of 18.3 per cent, Nakhchivan - 77.43 million manat - 12 per cent.

Official exchange rate on Sept 7 is 0.7852 AZN/USD

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