Azerbaijan, Baku, Jan. 8 /Trend /
Azerbaijani banks increased lending to the Azerbaijani economy by 21 percent in January-November 2012 and by 22.2 percent compared to the same period of 2011, the Azerbaijani Central Bank's statistics report said today.
According to the CBA, as of early December 2012, the banks delivered loans totaling 12.042.4 billion manat (including 8.108.3 billion manat in national currency (67.3 percent) in national currency and 3.934.1 billion manat in freely convertible currency (32.7 percent)
As of early 2012, the figure was equal to 9.950.3 billion manat (6.426.5 billion in national currency and 3.523.8 billion manat in freely convertible currency), and as of December 1, 2011 - 9.852.8 billion manat (6.271.6 billion manat and 3.581.1 billion manat in freely convertible currency).
Of the total portfolio, loans worth 761.1 million manat (6.32 percent) were overdue compared to 633.8 million manat as of January 1, 2012, about 636.7 million manat as of December 1, 2011. Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit. Overdue loans increased by 20.1 percent during eleven months, and by 19.5 percent in annual terms.
Short-term loans as of early December 2012, amounted to 3.549 billion manat (including overdue loans worth 415.9 million manat) compared to 3.051.2 billion manat (including overdue loans worth 326.2 million manat) as of January 1, 2012, and 3.093.9 billion manat (326.4 million manat) as of December 1, 2011. Short-term loans in the economy have increased by 27.01 percent since early 2012 and by 14.7 percent per year. As of early December 2012, 34.3 percent of short-term loans were in freely convertible currency (1.217.6 billion manat).
Long-term loans amounted to 8.493.3 billion manat (including 345.2 million manat overdue loans) as of early December 2012 compared to 6.899.1 billion manat (307.6 million manat overdue loans) as of early 2012, 6.758.9 billion manat (310.3 million manat) as of December 1, 2011.
During 11 months of this year, long-term loans increased by 23.1 percent and by 25.7 percent per year. As of early December 2012, 32 percent of long-term loans accounted for freely convertible currency (2.716.5 billion manat).
Around 43 banks operate in Azerbaijan.
The official exchange rate is 0.7847 AZN / USD on Jan. 8.