Banks increase lending to Azerbaijani districts by half
Baku, Azerbaijan, Jan. 5
By Azad Hasanli - Trend:
The loans given to the population in Azerbaijan's districts totaled 3.033 billion AZN as of November 2014, or 16.7 percent of the banks' total loan portfolio, the Central Bank of Azerbaijan's report as of 11 months, 2014 says.
This figure is 49.28 percent more than in the same period of 2013.
The figure hit 15.118 billion AZN in Baku. Here the loans in national currency (AZN) amounted to 10.992 billion AZN.
In November 2014, the average interest rate on loans throughout the country was 14 percent, while in Baku this index stood at 12.5 percent.
The lending volume in the Absheron Economic district totaled 584.1 million AZN at an average rate of 19.2 percent.
In other economic districts the lending index was as follows: Aran - 1.071 billion AZN at a rate of 21.7 percent, Mountainous Shirvan - 124.24 million AZN at a rate of 23.5 percent, Ganja-Gazakh - 413.05 million AZN at a rate of 21.7 percent, Guba-Khachmaz - 139.37 million AZN at a rate of 20.2 percent, Lankaran - 315.02 million AZN at a rate of 23.5 percent, Shaki-Zagatala - 167.17 million AZN at a rate of 20.8 percent, the Upper Karabakh - 78.25 million AZN at a rate of 20.8 percent, Kalbajar-Lachin - 31.58 million AZN at a rate of 25.6 percent, Nakhchivan - 109.36 million AZN at a rate of 13.5 percent.
As of December 1, 2014, the total volume of the banks' loans amounted to 18.151 billion AZN, which is 19.06 percent more than in the same period of 2013.
There are 44 banks in Azerbaijan.
The official exchange rate is 0.7844 AZN/USD Jan. 5.
Edited by CN
follow the author on Twitter: @AzadHasanli