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Azerbaijan records growth in bank lending

Finance Materials 27 August 2020 15:36 (UTC +04:00)
Azerbaijan records growth in bank lending

BAKU, Azerbaijan, Aug. 27

By Eldar Janashvili – Trend:

The bank lending volume in Baku, the capital of Azerbaijan, and economic regions stood at 14.2 billion manats ($8.3 billion) as of August 1, 2020, which is 6.4 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, as of the reporting date, the loans worth 11.4 billion manats ($6.7 billion) were issued in Baku, which is 4.3 times more than in the regions. Loans in national currency in Baku amounted to 9.5 billion manats ($5.5 billion), or 64 percent of the total lending volume in Baku.

Meanwhile, the average annual interest rate on loans amounted to 11.01 percent in Azerbaijani regions and 9.23 percent in Baku.

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

Amount of loans

Average interest rate (%)

Share in total lending (%)

Azerbaijan

14.2 billion manat ($8.3 billion)

11.01

100

Baku

11.4 billion manat ($6.7 billion)

9.23

80.8

Economic regions:

2.6 billion manat ($1.5 billion)

17.06

19.1

Absheron

473 million manat ($278.2 million)

15.26

3.3

Aran

709 million manat ($417.2 million)

21.01

4.9

Mountainous-Shirvan

64.1 million manat ($37.7 million)

21.44

0.4

Ganja-Gazakh

586.9 million manat ($345.2 million)

18.02

4.1

Guba-Khachmaz

197.3 million manat ($116 million)

18.37

1.39

Lankaran

247.7 million manat ($145.7 million)

20.23

1.7

Shaki-Zagatala

194 million manat ($114.1 million)

17.46

1.37

Upper-Karabakh

59.5 million manat ($35 million)

23.92

0.4

Kalbajar-Lachin

0

0

0

Nakhchivan

190.4 million manat ($112 million)

15.36

1.34

(1 USD = 1.7 AZN on Aug. 27)

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Follow the author on Twitter: @eldarjanashvili

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