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Bank lending growing in Azerbaijani economic regions

Finance Materials 6 November 2019 15:50

BAKU, Azerbaijan, Nov. 6

By Kamala Mammadli – Trend:

The bank lending reached 14.2 billion manat ($8.4 billion) in Azerbaijan as of October 1, 2019, which is 15.8 percent more compared to October 1, 2018, Central Bank of Azerbaijan (CBA) said, Trend reports with reference to CBA.

The loans worth 11.1 billion manat ($6.5 billion) were issued in Baku in September, which is 4.04 times more than in the Azerbaijani regions. Loans in national currency amounted to 6.5 billion manat ($3.8 billion) or 58.6 percent of the total lending, CBA said.

The average annual interest rate on loans amounted to 11.7 percent in Azerbaijan and 9.8 percent in Baku in September.

Distribution of loans in the Azerbaijani economic regions as of October 1, 2019:

Economic regions

Lending (in 1,000 manat)

Average interest rate

Absheron

492,790

16.4

Aran

725,101

22.1

Mountainous Shirvan

69,163

22.2

Ganja-Gazakh

575,949

19.1

Guba-Khachmaz

209,000

19,5

Lankaran

256,924

21.4

Shaki-Zagatala

213,351

17.3

Upper Karabakh

61,299

23.8

Kalbajar-Lachin

0.0

0.0

Nakhchivan

147,001

13.6

(1 USD = 1.7 AZN on Nov. 6)

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