Azerbaijani banks increases lending to economy by almost 19 percent during year

Azerbaijan, Baku, Nov.8 / Trend /

Azerbaijani banks increased lending to the economy by 5.96 percent in the third quarter of 2012 by 18.75 percent compared to the same period of 2011, the Azerbaijani Central Bank's statistical report said on Thursday.

According to the CBA, in early October 2012 the banks issued loans worth 11.480.8 billion, including 7.741 billion (67.4 percent) in national currency and 3.739 billion (32.6 percent) - in freely convertible currency.

For comparison, in early third quarter this figure was 10.834 billion (7.174.3 billion manat in national currency and 3.660 billion manat - in freely convertible currency), and as of Oct.1, 2011 - 9.667 billion (6.019 billion manat and 3.648 billion manat in freely convertible currency).