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Bank lending up in Azerbaijani economic regions in 10 months of 2019

Finance Materials 4 December 2019 17:25 (UTC +04:00)
Bank lending up in Azerbaijani economic regions in 10 months of 2019

BAKU, Azerbaijan, Dec. 4

By Eldar Janashvili - Trend:

The bank lending slightly exceeded 14 billion manat ($8.2 billion) in Azerbaijan as of Nov. 1, 2019, which is 8 percent more compared to Nov. 1, 2018, Trend reports with reference to Central Bnak of Azerbaijan (CBA).

The loans worth 11.25 billion manat ($6.6 billion) were issued in Baku as of Nov. 1, which is almost four times more than in the Azerbaijani regions. In Baku, loans in national currency amounted to 6.6 billion manat ($3.8 billion) or 58.9 percent of the total lending.

The average annual interest rate on loans amounted to 11.7 percent in Azerbaijan and 9.8 percent in Baku as of Nov. 1.

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

Economic regions

Lending (in 1,000 manat)

Average interest rate

Absheron

515,926

16.3

Aran

729,592

22

Mountainous Shirvan

70,964

22.2

Ganja-Gazakh

588,951

19.1

Guba-Khachmaz

199,425

19.4

Lankaran

272,788

21.1

Shaki-Zagatala

222,009

17.2

Upper Karabakh

61,301

24.0

Kalbajar-Lachin

0.0

0.0

Nakhchivan

155,324

13.9

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Follow the author on Twitter: @eldarjanashvili

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