Twelve percent of Azerbaijani banks’ loans fall to regional development
Azerbaijan, Baku, Nov 12 /Trend/
Loans issued to the population in the regions of Azerbaijan amounted to 1.372.9 billion manat, or 11.95 per cent of the total loan portfolio of banks as of early September, the Central Bank of Azerbaijan (CBA) said.
According to the CBA, in Baku this figure hits 10.107.9 billion manat, 6.720.6 million of which were issued in national currency. The average interest rate on loans was 15.4 per cent, whilst in Baku was 14.6 per cent.
The lending volume on Absheron economic region totaled 344.2 million manat at an average rate of 18.2 percent, Aran - 307.1 million manat at 23 percent, Mountain-Shirvan - 34.8 million manat at 22 percent, Ganja -Gazakh - 272.17 million manat at 21.5 percent, Guba-Khachmaz - 118.48 million manat at 20.2 percent, Lankaran - 119.5 million manat at 24.7 percent, Sheki-Zagatala - 79.68 million manat at 23.1 percent, Upper Karabakh - 14.5 million manat at 22.4 percent, Kalbajar-Lachin - 2.8 million manat at 18.1 percent, Nakhchivan - 81.5 million manat at 12.3 percent.
Most of all loans are granted to households in Azerbaijan. According to the CBA, in third quarter 2012 households received 35.2 percent or loans worth 4.042.5 billion manat.
The sphere of trade and services (24.8 percent or 2.846.1 billion manat) ranks second, the construction sector, real estate (9.6 percent or 1.103.4 billion manat) ranks third.
Some 6.7 percent or 774.9 million manat accounted for industry and production, 4.6 percent (528.8 million manat) - agriculture and processing, 3.8 percent or 439.1 million manat - transport and communications, 3.5 percent (403.6 million manat) - power engineering, chemistry and natural resources, 0.4 percent or 42.3 million manat of loans - other spheres.
Official exchange rate on Nov 10 is 0.7850 AZN/USD