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Lending in Azerbaijani national currency grows

Business Materials 4 September 2018 15:37

Baku, Azerbaijan, Sept. 4

By Azad Hasanli - Trend:

As of July 2018, 2.16 billion manats were lent to the Azerbaijani districts, which is almost 9 percent more than in early 2018, the Central Bank of Azerbaijan (CBA) said in a message Sept. 4.

During the period, the share of districts in the total loan portfolio of banks has increased from 16.9 to 17.7 percent.

According to the CBA, loans worth almost 10.01 billion manats were issued in Baku by late July 2018, which is 4.6 times more than in the districts.

Some 5.69 billion manats accounted for the loans in the national currency in Baku and 1.8 billion manats in the districts.

The average annual interest rate on loans was 11.9 percent in the districts and 10.3 percent in Baku in July 2018.

Distribution of loans by districts of Azerbaijan (as of August 1, 2018):

Lending volume (in 1,000 manats)

Average interest rate

Absheron

483,715.2

16

Aran

532,355.7

23

Mountainous Shirvan

67,118.8

21.6

Ganja-Gazakh

457,444.8

19.3

Guba-Khachmaz

148,981.2

20.9

Lankaran

191,279.3

22.2

Shaki-Zagatala

128,171.4

22.1

Upper Karabakh

44,243.7

20.6

Kalbajar-Lachin

362.1

16.1

Nakhchivan

103,790.4

9

(1.7 AZN = 1 USD on Sep. 4).

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Follow the author on Twitter: @AzadHasanli

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