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Bank lending on rise in Azerbaijan’s capital and districts

Finance Materials 2 July 2020 17:28
Bank lending on rise in Azerbaijan’s capital and districts

BAKU, Azerbaijan, July 2

By Eldar Janashvili – Trend:

The bank lending volume in Baku, the capital of Azerbaijan, and economic regions stood at 14.4 billion manat ($8.5 billion) as of June 1, 2020, which is 11.7 percent more than in the same period of 2019, Trend reports referring to the statistical bulletin of the Central Bank of Azerbaijan (CBA).

According to CBA, the loans worth 11.6 billion manat ($6.8 billion) were issued in Baku as of June 1, 2020, which is 4.2 times more than in the regions. Loans in national currency in Baku amounted to 6.9 billion manat ($4.05 billion), or 59.8 percent of the total lending volume in Baku.

As of June 1, the average annual interest rate on loans amounted to 10.99 percent in Azerbaijan and to 9.14 percent in Baku.

Distribution of loans in Azerbaijani districts as of June 1, 2020:

Amount of loans

Average interest rate (%)

Share in total lending (%)

Azerbaijan

14.4 billion manat ($8.5 billion)

10.99

100

Baku

11.6 billion manat ($6.8 billion)

9.14

80.8

Economic regions:

2.8 billion manat ($1.6 billion)

17.22

19.2

Absheron

493.1 million manat ($209.05 million)

16.10

3.4

Aran

714.6 million manat ($420.3 million)

20.99

5

Mountainous-Shirvan

64.1 million manat ($37.7 million)

21.65

0.4

Ganja-Gazakh

587.02 million manat ($345.4 million)

18.49

4.1

Guba-Khachmaz

203.5 million manat ($119.7 million)

18.60

1.4

Lankaran

252.8 million manat ($148.7 million)

20.51

1.8

Shaki-Zagatala

204.06 million manat ($120.03 million)

17.08

1.4

Upper-Karabakh

58.4 million manat ($34.3 million)

23.73

0,4

Kalbajar-Lachin

0

0

0

Nakhchivan

185.5 million manat ($109.1 million)

15.08

1.3

(1 USD = 1.7 AZN on July 2)

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Follow the author on Twitter: @eldarjanashvili

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