Azerbaijan, Baku, October 8/Trend, E.Aliyev/
Azerbaijani banks increased lending to the economy by 18.6 per cent in January-August 2013 and by 30.7 per cent per annum, the Azerbaijani Central Bank's (CBA) statistic report said.
According to the Azerbaijani Central Bank, the bank's delivered loans totaling 14.455.1 billion manat (including 10.261.4 billion manat in national currency (71 per cent) in national currency and 4.193.7 billion manat in freely convertible currency (29 per cent).
For comparison, the figure was equal to 11.057.8 billion manat (7.378.5 billion manat in national currency and 3.679.3 billion manat in freely convertible currency) in Jan.-August 2012, and as of early 2013 - 12.243.7 billion manat (8.422.8 billion manat in national currency and 3.820.9 billion manat in freely convertible currency.
Of the total portfolio, loans worth 764.8 million manat (5.3 per cent) were overdue compared to 731.7 million manat as of January-August 2012. Statistics of overdue loans do not include similar loans of the non-banking credit institution Aqrarkredit. Overdue loans increased by 4.5 per cent per year.
Short-term loans amounted to 3.342.4 billion manat (including overdue loans worth 355.6 million manat) compared to 2.960.8 billion manat (including overdue loans worth 396.2 million manat) as of the same period of 2012. Short-term credit in the economy increased by 12.9 per cent per year. As of early September 2013, around 29.8 per cent of short-term loans were in freely convertible currency (996.9 million manat).
As of September 1, long-term loans amounted to 11.112.7 billion manat (including 409.1 million manat overdue loans) compared to 8.097 billion manat (331 million overdue loans) as of Jan.-August 2012. Long-term loans increased by 37.24 per cent per year. As of early September 2013, around 28.77 per cent of long-term loans accounted for freely convertible currency (3.196.8 billion manat).
According to the CBA, the credit portfolio of the only state bank in the country (the International Bank of Azerbaijan) hit 5.004.5 billion manat with a specific weight of 34.6 per cent, while private banks obtained the loans worth 9.058.2 billion manat with a specific weight of 62.7 per cent. The remaining 2.7 per cent fall to the share of non-bank credit organizations. They obtained 392.3 million manat.
Most of all loans are granted to households in Azerbaijan. According to the CBA, as of January-August 2013, households received 38.6 per cent or loans worth 5.572.6 billion manat.
The construction sector and real estate (15.5 per cent or 2.239.4 billion manat) ranks second, while trade and services (15.3 percent, or 2.206.9 billion manat) ranks third. The industrial and production sector received 9.8 per cent of the total lending amount of the Azerbaijani real sector, which hits 1.413.1 billion manat in nominal terms.
Some 3.3 per cent (482.5 million manat) fall to the transport and communication, 4.8 per cent (695.7 million manat) - agriculture and processing, 2.2 per cent (318.5 million manat) - energy, chemistry, and natural resources, 10.5 per cent or 1.517.78 billion manat loans - on the other spheres.
Official exchange rate on October 8 is 0.7844 AZN/USD.