Azerbaijani banks increase lending to districts over 40%

Business Materials 31 October 2014 20:43 (UTC +04:00)

Baku, Azerbaijan, Oct. 31

By Azad Hasanli - Trend:

The loans given to the public in Azerbaijan's districts totalled 2.878.84 billion AZN as of September 2014, or 16.3 percent of the banks' total loan portfolio, according to Azerbaijani Central Bank's (CBA) report for Jan.-September, 2014.

The official exchange rate for Oct. 31 is 0.7844 AZN/USD.

This figure is 43.6 percent more than the indicators for the same period of 2013. In Azerbaijani capital of Baku the figure stood at 14.752.75 billion AZN. Here the loans in national currency (AZN) amounted to 10.718.3 billion AZN.

In September 2014, the average interest rate on loans throughout the country was 14.3 percent, while in Baku this indicator stood at 13 percent.

The volume of lending in the Absheron Economic district totalled 571.87 million AZN at an average rate of 19.1 percent.

In other economic districts the lending indicator was as follows: Aran - 1.003.7 million AZN at a rate of 21.5 percent, Mountainous Shirvan - 113.22 million AZN at a rate of 23.7 percent, Ganja-Gazakh - 388.24 million AZN at a rate of 21.9 percent, Guba-Khachmaz - 128.7 million AZN at a rate of 21.3 percent, Lankaran - 301.6 million AZN at a rate of 23.5 percent, Shaki-Zagatala - 161.8 million AZN at a rate of 20.5 percent, the Upper Karabakh - 73.22 million AZN at a rate of 20.4 percent, Kalbajar-Lachin - 28.51 million AZN at a rate of 25.5 percent, Nakhchivan - 107.96 million AZN at a rate of 13.4 percent.

As of Oct. 1, the total loans granted by banks amounted to 17 631, 59 million AZN, or 19.2 percent more than in the same period of 2013.

There are 44 banks in Azerbaijan.