Azerbaijani banks direct 13% of loans to regions
Azerbaijan, Baku, Jan. 5 / Trend I.Khalilova /
As of early November 2012, loans to population in the regions of Azerbaijan amounted to 1.5 billion manat or 12.8 percent of the total loan portfolio. This is stated in the statistical report of the Central Bank of Azerbaijan (CBA) published on its website.
According to the CBA, in Baku, this figure was 10.2 billion manat, where the credits in the national currency amount 6.8 billion manat. The average interest rate on loans in November was 15.3 percent, in Baku - 14.5 percent.
The volume of lending to the Absheron economic region amounted to 368.3 million manat, with an average rate of 17.8 percent, Aran - 322.98 million manat with the rate of 22.1 percent, Gorno-Shirvan - 35.7 million manat with the rate of 22 percent, Ganja -Gazakh - 320.6 million manat with the rate of 20.8 percent, Guba-Khachmaz - 131.6 million manat with the rate of 19.1 percent, Lankaran - 130.2 million manat with the rate of 24.4 percent, Sheki-Zagatala - 91.6 million manat with the rate of 23.5 percent, Nagorno-Karabakh - 14.5 million manat with the rate of 22.1 percent, Kelbajar, Lachin - 2.8 million manat with the rate of 18 percent, Nakhchivan - 82.8 million manat with the rate of 12.2 percent.
The total amount of bank loans in early November 2012 amounted to 11.74 billion manat, including 7.9 billion (68.1 percent) in national currency and 3.7 billion (31.9 percent) in freely convertible currency.
For comparison, as of early 2012 it amounted to 9.9 billion (6.4 billion manat in national currency and 3.5 billion manat - in freely convertible currency), and by November 1, 2011 - 97.7 billion manat (6.1 billion manat and 3.6 billion manat in freely convertible currency).
The official exchange rate for January 5 is 0,7850 AZN / USD.