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Over 80% of loans in Azerbaijani districts issued in manats

Finance Materials 13 November 2018 15:09 (UTC +04:00)

Baku, Azerbaijan, Nov. 13

By Taleh Mursagulov - Trend:

As of September 2018, 2.27 billion manats were lent to the Azerbaijani districts, which is 14.65 percent more than in early 2018, the Central Bank of Azerbaijan (CBA) said in a report.

During the period, the share of districts in the total loan portfolio of banks has increased from 16.9 to 18.45 percent.

According to the CBA, loans worth 10.03 billion manats were issued in Baku by late September 2018, which is 4.4 times more than in the districts.

Some 5.63 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 19.4 percent in the districts and 10.3 percent in Baku in September 2018.

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

Lending volume (in 1,000 manats)

Average interest rate

Absheron

498,623.4

16.3

Aran

562,705.2

23.2

Mountainous Shirvan

68,662.8

22.4

Ganja-Gazakh

477,001.6

19.6

Guba-Khachmaz

154,747.9

21

Lankaran

202,906.2

22.3

Shaki-Zagatala

154,019.8

20.2

Upper Karabakh

47,476.1

24.9

Kalbajar-Lachin

296.9

14.6

Nakhchivan

104,612.1

9.4

(1.7 AZN = 1 USD on Nov. 13)

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