Banks increase lending to Azerbaijani regions by almost 50%
Baku, Azerbaijan, Nov. 29
By Azad Hasanli - Trend:
The loans given to the population in Azerbaijan's districts totalled 2.929 billion AZN as of October 2014, or 17 percent of the banks' total loan portfolio, according to Azerbaijani Central Bank's (CBA) report for January-October 2014.
This figure is 48.4 percent more than in the same period of 2013.
The figure stood at 14.912 billion AZN in Baku. Here the loans in national currency (AZN) amounted to 10.849 billion AZN.
In October 2014, the average interest rate on loans throughout the country was 14.2 percent, while in Baku this index stood at 12.9 percent.
The lending volume in the Absheron Economic district totalled 572.77 million AZN at an average rate of 18.4 percent.
In other economic districts the lending index was as follows: Aran - 1.021 billion AZN at a rate of 21.3 percent, Mountainous Shirvan - 117.18 million AZN at a rate of 23.4 percent, Ganja-Gazakh - 402.34 million AZN at a rate of 21.6 percent, Guba-Khachmaz - 128.42 million AZN at a rate of 20.9 percent, Lankaran - 309.29 million AZN at a rate of 23.4 percent, Shaki-Zagatala - 163.7 million AZN at a rate of 20.8 percent, the Upper Karabakh - 75.75 million AZN at a rate of 20.4 percent, Kalbajar-Lachin - 30.26 million AZN at a rate of 25.4 percent, Nakhchivan - 107.88 million AZN at a rate of 13.2 percent.
As of November 1, 2014, the total amount of the loans issued by the banks amounted to 17.841 billion manat or 19.02 percent more than in the same period of last year.
There are 44 banks in Azerbaijan.
The official exchange rate is 0.7844 AZN/USD Nov. 29.