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Bank lending in Azerbaijan showing increase

Finance Materials 28 July 2020 11:26
Bank lending in Azerbaijan showing increase

BAKU, Azerbaijan, July 28

By Eldar Janashvili – Trend:

The bank lending volume in Baku, the capital of Azerbaijan, and economic regions stood at 14.1 billion manat ($8.2 billion) as of July 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 11.4 billion manat ($6.7 billion) were issued in Baku as of July 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 60.8 percent of the total lending volume in Baku.

As of July 1, the average annual interest rate on loans amounted to 11.05 percent in Azerbaijani regions and to 9.19 percent in Baku.

Distribution of loans in Azerbaijani capital and regions as of July 1, 2020:

Amount of loans

Average interest rate (%)

Share in total lending (%)

Azerbaijan

14.1 billion manat ($8.2 billion)

11.05

100

Baku

11.4 billion manat ($6.7 billion)

9.19

80.6

Economic regions:

2.7 billion manat ($1.5 billion)

1.86

19.4

Absheron

491.2 million manat ($288.9 million)

15.93

3.5

Aran

709.3 million manat ($417.2 million)

21.03

5

Mountainous-Shirvan

64.5 million manat ($37.9 million)

21.66

0.5

Ganja-Gazakh

588.6 million manat ($346.2 million)

18.43

4.2

Guba-Khachmaz

199.3 million manat ($117.2 million)

18.78

1.4

Lankaran

248.5 million manat ($146.1 million)

20.54

1.8

Shaki-Zagatala

200.7 million manat ($118 million)

17.32

1.4

Upper-Karabakh

59.1 million manat ($34.7 million)

23.9

0.4

Kalbajar-Lachin

0

0

0

Nakhchivan

186.8 million manat ($109.8 million)

15.27

1.3

(1 USD = 1.7 AZN on July 28)

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Follow the author on Twitter: @eldarjanashvili

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