Baku, Azerbaijan, Nov. 7
By Emin Aliyev -Trend: Azerbaijani banks have increased lending to the economy by 20.8 per cent in January-September 2013 and by 30 per cent per annum.
According to the Azerbaijani Central Bank statistic report released on Nov. 7, for the reporting period the banks delivered loans totaling 14793.3 million manat including 10508.5 million manta (71.03 per cent) in national currency and 4284.8 million manat (28.97 percent) in freely convertible currency.
For comparison, the figure was equal to 11380.8 million manat (7641.4 million manat in national currency and 3739.5 million manat in freely convertible currency) in Jan.-Sept. 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 795 million manat (5.37 per cent) were overdue compared to 757.9 million manat as of January-September 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 3428.3 million manat (including overdue loans worth 374.4 million manta) compared to 3252.7 million manat (including overdue loans worth 412.7 million manat) as of the same period of 2012. Short-term credit in the economy increased by 5.4 per cent per year. As of early October 2013, 29.73 per cent of short-term loans were in freely convertible currency (1019.3 million manat).
As of October 1, long-term loans amounted to 11365 million manat (including 420.5 million manat overdue loans) compared to 8228.2 million manat (including 345.2 million manat overdue loans) as of Jan.-Sept. 2012. Long-term loans increased by 38.12 per cent per year. As of early October 2013, 28.73 per cent of long-term loans accounted for freely convertible currency (3265.5 million manat).
According to the CBA, the credit portfolio of the only state bank in the country (the International Bank of Azerbaijan) hit 5135 million manat with a specific weight of 34.7 per cent, while private banks obtained the loans worth 9266 million manat with a specific weight of 62.6 per cent. The remaining 2.7 per cent fall to the share of non-bank credit organizations. They obtained 392.3 million manat.
43 banks operate in Azerbaijan.
The official exchange rate is 0.7843 AZN/USD on Nov.7.