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Lending to Azerbaijani districts decreases by 22%

Business Materials 7 October 2016 20:30 (UTC +04:00)

Baku, Azerbaijan, Oct. 7

By Azad Hasanli - Trend:

The loans given to the population in Azerbaijan's districts totaled 2.56 billion manat (official exchange rate on Oct. 7 is 1.6036 AZN/USD) in August 2016, or 22.4 percent less than in the same period of 2015, the Azerbaijani central bank’s report said.

The share of districts in a total volume of the banks’ loan portfolio amounted to 15.2 percent (16.4 percent in August 2015), the report said.

According to the report, the loans worth 14.3 billion manat were issued in Baku. The loans in national currency amounted to 7.04 billion manat (49.2 percent).

For comparison, the loans amounting to 16.8 billion manat were issued in Baku in August 2015. Some 9.04 billion manat (53.8 percent) of that amount accounted for the loans in national currency.

The average interest rate on loans throughout Azerbajan was 11.4 percent in August 2016, while in Baku that index stood at 9.8 percent.

District

loans (thousand manat)

Interest rate (%)

Loans in national currency (thousand manat)

Baku

14 275 783,6

9,8

7 036 001

Absheron

518 603,3

16,6

328 718,2

Aran

629 542,8

22,5

411 873,8

Mountain Shirvan

109 535,9

20,5

62 328,5

Ganja-Gazakh

534 456,2

19,8

355 476,3

Quba-Khachmaz

201 090,9

19,8

143 265,1

Lankaran

235 895,2

22

144 742,4

Sheki-Zaqatala

179 847,6

21,6

125 235

Upper Karabakh

43 953,6

18,3

39 422,8

Kalbajar-Lachin

1 162,6

13,3

828,4

Nakhchivan

109 781,9

13,2

107 246,8

Total

16 839 653,4

11,4

8 755 138

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