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Lending increases by 16% in Azerbaijani regions

Finance Materials 3 January 2019 14:01 (UTC +04:00)

Baku, Azerbaijan, Jan. 3

By Taleh Mursagulov - Trend:

As of November 2018, 2.3 billion manats were lent to the Azerbaijani regions, which is 11.22 percent more than in the same period of 2017 and 16.16 percent more than in early 2018, Trend reports referring to a report of the Central Bank of Azerbaijan (CBA).

During the period, the share of regions in the total loan portfolio of banks has increased from 16.9 to 18.31 percent.

According to the CBA, loans worth 10.26 billion manats were issued in Baku by late November 2018, which is 4.5 times more than in the districts.

Some 5.9 billion manats were issued in the national currency in Baku and 1.99 billion manats were issued in the regions.

The average annual interest rate on loans was 12 percent in Azerbaijan general and 10.3 percent in Baku in November 2018.

Distribution of loans by regions of Azerbaijan (as of Dec. 1, 2018):

Economic regions

Lending (in 1,000 manats)

Average interest rate

Absheron

510,030.4

16.4

Aran

572,574.1

23.1

Mountainous Shirvan

61,109.0

23.9

Ganja-Gazakh

475,283.3

19.7

Guba-Khachmaz

163,871.5

20.6

Lankaran

208,150.1

22.2

Shaki-Zagatala

157,210.1

20

Upper-Karabakh

49,453.5

24.8

Kalbajar-Lachin

283

14.7

Nakhchivan

103,333.5

9.7

(1 USD = 1.7 AZN on Jan. 3)

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Follow the author on Twitter: @TalehMursagulov

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