Baku accounted for over 80% of loans issued in Azerbaijan in 2014
Baku, Azerbaijan, Feb. 6
By Azad Hasanli - Trend:
The loans issued to the population in Azerbaijan's districts exceeded 3.146 billon AZN in 2014, or 16.97 percent of the total volume of the banks' credit portfolio, which is 49.8 percent more than in 2013, Azerbaijani Central Bank (CBA) said in its report on 2014.
This figure surpassed 15.396 billion AZN in Baku where the loans in national currency neared 11.008 billion AZN. The average interest rate on loans stood at 13.7 percent in the country in 2014 and 12.3 percent in Baku.
The volume of lending in Absheron economic region stood at 608.99 million AZN with the average rate of 18.3 percent, Aran - around 1.106 billion AZN at a rate of 21.3 percent, Mountainous Shirvan - 129.7 million AZN - 23.2 percent, Ganja-Gazakh - 427.3 million AZN - 21.7 percent, Guba-Khachmaz - 142.89 million AZN - 20.1 percent, Lankaran - 327.79 million AZN - 22.9 percent, Sheki-Zagatala - 172.16 million AZN - 21.1 percent, the Upper Karabakh - 84.14 million AZN - 20 8 percent, Kalbajar-Lachin - 32.87 million AZN - 25.6 percent, Nakhchivan - 114.74 million AZN - 13.8 percent.
The total volume of loans issued by the banks as of January 1, 2015 amounted to 18,542,600,000 AZN which is 20.23 percent more than in 2013.
Currently, 45 banks operate in Azerbaijan.
The official exchange rate on Feb. 6 is 0.7844 AZN/USD.
Edited by CN
Follow the author on Twitter: @AzadHasanli