Azerbaijani banks direct over 13 percent of loans to regions
Baku, Azerbaijan, Jan. 14
By Emin Aliyev - Trend:
Loans given to the population in Azerbaijan's regions, amounted to 2.031.9 billion manat in January-November 2013, or 13.32 percent of the total loan portfolio of banks, Central Bank of Azerbaijan (CBA) said.
According to the CBA, in Baku this figure amounted to 13.213.3 billion manat, where the loans in the national currency accounted for 9.375.6 billion manat. As of December 1, 2013 the average interest rate on loans in the country was 14.2 percent, and in Baku - 13.4 percent.
The credit volume in the Absheron economic region amounted to 448.69 million manat at an average rate of 18.8 percent, in Aran - 719.18 million manat at a rate of 20.0 percent, in Mountain-Shirvan - 71.3 million manat at a rate of 22.2 percent, in Ganja - Gazakh - 264.7 million manat - 20.6 percent, in Guba-Khachmaz - 76.8 million manat - 20.9 percent, in Lankaran - 210.4 million manat - 21.8 percent, in Sheki-Zagatala - 101.9 million manat - 20.9 percent, in Upper Karabakh - 40.5 million manat - 15.1 percent, in Kalbajar-Lachin - 14.9 million manat - 22.2 percent, in Nakhchivan - 83.4 million manat - 15.6 percent.
Most of all loans are granted to households. According to the CBA, as of January-November 2013, households received 39.6 percent or 6.035.2 billion manat.
The construction and real estate sector (15.5 percent or 2.360.4 billion manat) ranks second, the trade and services (14.7 percent or 2.243.8 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 hit 1.461.2 billion manat in nominal terms.
Some 3.3 percent (500.9 million manat) went to transport and communication, 4.8 percent (734.1 million manat) - agriculture and processing, 2 percent (299.2 million manat) - energy, chemistry, and natural resources, 10.5 percent or 1.600.7 billion manat loans - to other spheres.
The official exchange rate is 0.7844 AZN/USD on Jan. 14.
translated by NH
edited by CN