Azerbaijani banks deliver over 13 per cent of loans to regions
Baku, Azerbaijan, Nov. 8
By Emin Aliyev - Trend: The loans, delivered to the population in Azerbaijan's regions, amounted to 2.004.31 billion manat in January-September 2013, or 13.54 per cent of the total loan portfolio of banks, Central Bank of Azerbaijan (CBA) said on Thursday.
According to the CBA, in Baku this figure amounted to 12.789 billion manat, where the loans in the national currency accounted for 8.984.7 billion manat. As of October 1, 2013 the average interest rate on loans in the country was 14.3 per cent, and in Baku - 13.4 per cent.
The crediting volume in Absheron economic region amounted to 422.4 million manat at an average rate of 18.7 per cent, in Aran - 703.9 million manat at a rate of 20.2 per cent, in Mountain-Shirvan - 74.2 million manat at a rate of 23.6 per cent, in Ganja - Gazakh - 266.9 million manat - 21.6 per cent, in Guba-Khachmaz - 75.1 million manat - 21.7 per cent, in Lankaran - 211.4 million manat - 22.9 per cent, in Sheki-Zagatala - 100.3 million manat - 21.8 per cent, in Upper Karabakh - 45 million manat - 17.6 per cent, in Kalbajar-Lachin - 17 million manat - 24.6 per cent, in Nakhchivan - 87.6 million manat - 17.2 per cent.
Most of all loans are granted to households in Azerbaijan. According to the CBA, as of January-September 2013, households received 38.5 per cent or loans worth 5.688.9 billion manat.
The construction and real estate sector (15.4 per cent or 2.283.8 billion manat) ranks second, the trade and services (14.9 per cent or 2.197.4 billion manat) ranks third.
It should be stressed that industrial and production sector received 9.9 per cent of the total lending amount of the Azerbaijani real sector, which hits 1.467.4 billion manat in nominal terms.
Some 3.5 per cent (515.5 million manat) fall to the transport and communication, 4.8 per cent (705.9 million manat) - agriculture and processing, 2.5 per cent (368.3 million manat) - energy, chemistry, and natural resources, 10.5 per cent or 1.566.1 billion manat loans - on the other spheres
The official exchange rate is 0.7843 AZN/USD on Nov. 8.