Azerbaijan, Baku, August 6 /Trend /
Azerbaijani banks increased lending to the Azerbaijani economy by 12.5 per cent in January-June 2013 and by 28.3 per cent per annum, the Azerbaijani Central Bank's statistics report said today.
According to the CBA, as of January-June 2013, the banks delivered loans totalling 13.774.1 billion manat (including 9.750.3 billion manat in national currency (70.8 per cent) in national currency and 4.023.8 billion manat in freely convertible currency (29.2 per cent)
As of January-June 2012, the figure was equal to 10.734.8 billion manat (7.074.3 billion manat in national currency and 3.660.5 billion manat in freely convertible currency).
Of the total portfolio, loans worth 781.8 million manat (5.67 per cent) were overdue compared to 706.7 million manat as of January-June 2012. Statistics of overdue loans do not include similar loans of non-bank credit institution Aqrarkredit. Overdue loans increased by 6.7 per cent per year.
Short term loans as of January-June 2013 amounted to 3.240.1 billion manat (including overdue loans worth 363.9 million manat) compared to 2.929.9 billion manat (including overdue loans worth 377.2 million manat) as of the same period of 2012. Short term credit in the economy increased by 23.5 per cent during the year. As of early July 2013, around 31.03 per cent of short term loans were in freely convertible currency (1.005.5 billion manat).
Long-term loans amounted to 10.534 billion manat (including 417.9 million manat overdue loans) as of July 1, 2013 compared to 7.805 billion manat (329.5 million manat overdue loans) as of the first six months of 2012.
Long term loans increased by 34.96 per cent per year. As of early July 2013, 28.6 per cent of long term loans accounted for freely convertible currency (3.018.3 billion manat).
According to the CBA, the credit portfolio of the only state bank in the country (the International Bank of Azerbaijan) hit 4.750.4 billion manat with a specific weight of 34.5 percent, while private banks obtained the loans worth 8.670.1 billion manat with a specific weight of 62.9 percent. The remaining 2.6 percent fall to the share of non-bank credit organizations. They obtained 353.7 million manat.
Most of all loans are granted to households in Azerbaijan. According to the CBA, as of January-June 2013, households received 37.7 percent or loans worth 5.199 billion manat.
The sphere of trade and services (15.7 percent or 2.162.5 billion manat) ranks second, the real estate and construction sector (15.5 percent or 2.132.2 billion manat) ranks third.
The industrial and production sector received 9.7 percent of the total lending amount of lending the Azerbaijani real sector, which hits 1.342.1 billion manat in nominal terms.
Some 3.2 percent (442.9 million manat) fall to the transport and communication, 4.9 percent (671.3 million manat) - agriculture and processing, 2.3 percent (317.6 million manat) - energy, chemistry, and natural resources, 11 percent or 1.506.5 billion manat loans - on the other spheres.
Around 43 banks operate in Azerbaijan.
The official exchange rate is 0, 7844 AZN/USD on August 6.