Azerbaijani banks increase lending to economy by over a quarter per year

Azerbaijani banks increase lending to economy by over a quarter per year

Azerbaijan, Baku, July 5 / Trend E. Aliyev /

Azerbaijani banks increased lending to the Azerbaijani economy by 5.4 percent in January-May 2013 and by 26.33 percent per annum, the Azerbaijani Central Bank's statistics report said on Thursday.

According to the CBA, as of January-May 2013, the banks delivered loans totaling 13.406.3 billion manat (including 9.444.3 billion manat in national currency (70.4 percent) in national currency and 3.962 billion manat in freely convertible currency (29.6 percent).

As of January-May 2012, the figure was equal to 10.611.5 billion manat (6.994.3 billion manat in national currency and 3.617.2 billion manat in freely convertible currency).

Of the total portfolio, loans worth 768.7 million manat (5.73 percent) were overdue compared to 720.1 million manat as of January-May 2012. Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit. Overdue loans increased by 6.7 percent per year.

Short-term loans as of Janury-May 2013 amounted to 3.197.7 billion manat (including overdue loans worth 377.1 million manat) compared to 2.958.8 billion manat (including overdue loans worth 376.9 million manat) as of the same period of 2012. Short-term credit in the economy increased by 8.1 percent during the year. As of early June 2013, around 30.66 per cent of short-term loans were in freely convertible currency (980.5 billion manat).

Long-term loans amounted to 10.208.6 billion manat (including 391.6 million manat overdue loans) as of June 1 compared to 7.652.7 billion manat (343.1 million manat overdue loans) as of January-May 2012.

The long-term loans increased by 33.4 percent per year. As of early June 2013, 29.2 percent of long-term loans accounted for freely convertible currency (2.981.5 billion manat).

According to the CBA, the only state bank in the country (the International Bank of Azerbaijan) delivered the loans totaling 4.570.5 billion manat with a specific weight of 34.1 percent, while private banks - 8.482.1 billion manat with a specific weight of 63.3 percent. The remaining 2.6 percent fall to the share of non-bank credit organizations. They issued 353.7 million manat.

Most of all loans are granted to households in Azerbaijan. According to the CBA, as of January-May 2013, households received 38 percent or loans worth 5.088.7 billion manat
The sphere of trade and services (15.9 percent or 2.132.5 billion manat) ranks second, the real estate and construction sector (15.4 percent or 2.066.9 billion manat) ranks third.

It should be stressed that industrial and production sector received 9.6 percent of the total lending amount of the Azerbaijani real sector, which hits 1.284.4 billion manat in nominal terms.

Some 3.3 percent (448.3 million manat) fall to the transport and communication, 4.5 percent (609.9 million manat) - agriculture and processing, 2.2 percent (290.1 million manat) - energy, chemistry, and natural resources, 11.1 percent or 1.485.5 billion manat loans - on the other spheres

Around 43 banks operate in Azerbaijan.

The official exchange rate is 0,7844 AZN/USD on July 5.

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