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Lending in Azerbaijani national currency grows

Business Materials 5 October 2018 13:32 (UTC +04:00)

Baku, Azerbaijan, Oct. 5

By Taleh Mursagulov - Trend:

As of August 2018, 2.22 billion manats were lent to the Azerbaijani districts, which is 12.1 percent more than in early 2018, the Central Bank of Azerbaijan (CBA) said in a message Oct. 5.

During the period, the share of districts in the total loan portfolio of banks has increased from 16.9 to 18 percent.

According to the CBA, loans worth 10.08 billion manats were issued in Baku by late August 2018, which is 4.5 times more than in the districts.

Some 5.75 billion manats accounted for the loans in the national currency in Baku and 1.9 billion manats in the districts.

The average annual interest rate on loans was 19.5 percent in the districts and 10.4 percent in Baku in August 2018.

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

Lending volume (in 1,000 manats)

Average interest rate

Absheron

493,292.2

16.3

Aran

550,016.1

23.3

Mountainous Shirvan

67,806.3

22.7

Ganja-Gazakh

467,853.5

19.6

Guba-Khachmaz

152,474.3

20.9

Lankaran

197,901.2

22.3

Shaki-Zagatala

141,720.6

21.2

Upper Karabakh

46,311.4

24.8

Kalbajar-Lachin

297.4

14.5

Nakhchivan

104,587.5

9.2

(1.7 AZN = 1 USD on Oct. 5)

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