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Azerbaijan’s districts record rise in lending

Business Materials 6 June 2018 16:13 (UTC +04:00)

Baku, Azerbaijan, June 6

By Azad Hasanli – Trend:

In April 2018, 2.106 billion manats accounted for the lending to the Azerbaijani districts, which is almost 6.2 percent more than in April 2017, the Central Bank of Azerbaijan (CBA) said in a message.

During the reporting period, 17.8 percent accounted for the share of districts in the total loan portfolio of banks.

According to the CBA, loans worth almost 9.7 billion manats were issued in Baku at the end of April 2018, which is 4.6 times more than in the districts. Almost 5.46 billion manats accounted for the loans in the national currency in Baku (56.22 percent of the total lending volume in Baku) and in the districts - 1.72 billion manats (81.77 percent of the total lending volume in the districts).

The average annual interest rate on loans in the country was 12 percent, in Baku - 10.5 percent in April 2018.

Economic regions

Lending volume (1,000 manats)

Change compared the beginning of 2018 (in%)

Average interest rate

Total

Including in national currency

Absheron

464, 442.3

372, 569.3

+2.95

15.6

Aran

506, 055.6

413, 258.3

+7.26

22.5

Mountain Shirvan

66, 834.6

56, 321.3

+5.26

22.5

Ganja-Gazakh

449, 255.1

351, 718

+8.58

18.8

Guba-Khachmaz

143, 898.3

122, 830.1

+5.6

20.5

Lankaran

181, 641.8

144, 244.5

+7.58

21.9

Sheki-Zagatala

135, 664.5

108, 516.1

+2.9

20.9

Upper-Karabakh

51, 874.1

47, 156.5

+15.1

20.3

Kalbajar-Lachin

300.6

213.8

-2.2 times

13.3

Nakhchivan

106 172.7

105, 386.1

+4.45

8.5

($1 = 1.7 AZN on June 6).

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Follow the author on Twitter: @AzadHasanli

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