16% of bank loans account for Azerbaijani districts

Baku, Azerbaijan, Sept. 9

By Maksim Tsurkov – Trend:

The loans worth 2.05 billion manats were issued to the population in the Azerbaijani districts in July 2017, that is, 16 percent of the total loan portfolio of banks, which is by 14.9 percent less than in the same period of 2016, according to the report of the Central Bank of Azerbaijan (CBA).

According to the CBA, the loans worth 10.81 billion manats were issued in Baku in July 2017. Some 5.74 billion manats (53.1 percent of total lending volume in Baku) accounted for the loans in national currency.

For comparison: as of July 2016, borrowers received loans worth 14.31 billion manats in Baku, 7.05 billion manats of that amount accounted for the loans in national currency.

The average annual interest rate on loans in the country as of July 2017 was 11.6 percent, while 10.2 percent in Baku.