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Bank lending up in Azerbaijan's economic regions as of Feb.1, 2020

Finance Materials 1 March 2020 14:55 (UTC +04:00)

BAKU, Azerbaijan, March 1

By Eldar Janashvili - Trend:

The bank lending amounted to 15.1 billion manat ($8.8 billion) in Azerbaijan as of Feb. 1, 2020, which is 17.3 percent more compared to Feb. 1, 2019, Trend reports with reference to Central Bank of Azerbaijan (CBA).

The loans worth 12.1 billion manat ($7.1 billion) were issued in Baku as of Feb. 1, 2020, which is four times more than in the Azerbaijani regions. In Baku, loans in national currency amounted to 6.9 billion manat ($4 billion) or 56.5 percent of the total lending.

The average annual interest rate on loans amounted to 11 percent in Azerbaijan and 9.2 percent in Baku as of Feb. 1.

Distribution of loans in the Azerbaijani economic regions as of Feb. 1, 2020:

Economic regions

Lending (manat)

Average interest rate

Absheron

546.6 million ($321.5 million)

15.9

Aran

766.9 million ($451.1 million)

21.2

Mountainous Shirvan

73.1 million ($43 million)

21.2

Ganja-Gazakh

633.4 million ($372.6 million)

18.5

Guba-Khachmaz

208.6 million ($122.7 million)

18.8

Lankaran

284.3 million ($167.2 million)

20.5

Shaki-Zagatala

231.5 million ($136.2 million)

16.8

Upper Karabakh

60.4 million ($35.5 million)

23.9

Kalbajar-Lachin

No data available

No data available

Nakhchivan

170.8 million ($100.4 million)

14.1

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