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Volume of loans in Azerbaijan grows

Finance Materials 27 November 2020 09:42 (UTC +04:00)
Volume of loans in Azerbaijan grows

BAKU, Azerbaijan, Nov. 27

By Zeyni Jafarov – Trend:

The total bank lending in the capital and regions of Azerbaijan amounted to 14.4 billion manat ($8.4 billion) as of early November 2020, which is 2.4 percent more compared to the same period of 2019, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).

According to the CBA, 11.5 billion manat ($6.7 billion) of the loans were issued in Baku, which is by over 4 times more compared to the regions. At the same time, 7.2 billion manat ($4.2 billion) or 62.5 percent of total lending in Baku fell on loans in the national currency.

The average annual interest rate on loans in Azerbaijan as of early November 2020 amounted to 11.05 percent, in Baku - 9.19 percent.

Distribution of loans by regions of Azerbaijan (as of November 1, 2020):

The volume of lending

Average percentage rate (%)

Share of the total volume of loans (%)

Azerbaijan

14.4 billion manat ($8.4 billion)

11.05

100

Baku

11.5 billion manat ($6.7 billion)

9.19

79.9

Economic regions

2.89 billion manat ($1.7 billion)

20.1

Absheron

466.4 million manat ($274.3 million)

15.42

3.4

Aran

736.5 million manat ($433.2 million)

21.37

5.1

Upper Shirvan

68 million manat ($40 million)

21.95

0.5

Ganja-Gazakh

619.9 million manat ($364.6 million)

18.08

4.3

Guba-Khachmaz

213.2 million manat ($125.4 million)

18.2

1.5

Lankaran

261 million manat ($153.5 million)

20.59

1.8

Shaki-Zagatala

244.8 million manat ($144 million)

15.64

1.7

Upper Karabakh

59.4 million manat ($36.1 million)

23.49

0.4

Kalbajar-Lachin

0

0

0

Nakhchivan

205 million manat ($120.59 million)

14.58

1.4

(1 USD = 1.7 manat on Nov. 27)

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Follow the author on Twitter: @jafarov_zeyni

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