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Nearly 17% of bank loans account for Azerbaijani districts

Business Materials 13 November 2017 17:30 (UTC +04:00)

Baku, Azerbaijan, Nov. 13

By Azad Hasanli – Trend:

Loans worth 2.07 billion manats were issued to the population in Azerbaijani districts in September 2017, that is, 16.6 percent of the total loan portfolio of banks, which is by 18.2 percent less than in September 2016, according to the report of the Central Bank of Azerbaijan (CBA).

According to the CBA, in early October 2017 the loans worth 10.4 billion manats were issued in Baku, which is by fivefold more than in the districts. Almost 5.7 billion manats (54.74 percent of total lending volume in Baku) accounted for the loans in national currency.

The average annual interest rate on loans in the country as of September 2017 was 11.8 percent, while 10.4 percent in Baku.

Districts

Lending volume (thousand manats)

Average interest rate

In total

Including manats

Absheron

453,405.5

334,070

15.5

Aran

498,422.6

360,750.8

22.3

Mountain Shirvan

72,407.4

52,128.3

21.5

Ganja-Gazakh

427,362.5

313,967

18.9

Guba-Khachmaz

144,635.5

113,529.9

19.8

Lankaran

175,748.3

123,609.3

21.7

Sheki-Zagatala

153,147.6

102,888.6

20.1

Upper-Karabakh

40,192.1

35,126.5

18.6

Kalbajar-Lachin

705

533.6

14.5

Nakhchivan

104,802.3

103,337.8

8.6

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