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Azerbaijan records decline in 2020 bank lending

Finance Materials 28 January 2021 17:12
Azerbaijan records decline in 2020 bank lending

BAKU, Azerbaijan, Jan.28

By Zeyni Jafarov – Trend:

The total bank lending in the capital and regions of Azerbaijan amounted to 14.15 billion manat ($8.3 billion) as of early January 2021, which is 5 percent less than in the same period of 2020, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).

According to the CBA, almost 11.33 billion manat ($6.6 billion) of the loans were issued in Baku, which is dropped by 4 times compared to the other regions. At the same time, almost 7.2 billion manat ($4.2 billion) or 63.4 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 December this year amounted to 11.12 percent, in Baku - 9.28 percent.

Distribution of loans by regions of Azerbaijan (as of January 1, 2021):

The volume of lending

Average percentage rate (%)

Share of the total volume of loans (%)

Azerbaijan

14.15 billion manat ($8.3 billion)

11.12

100

Baku

11.33 billion manat ($6.6 billion)

9.28

80

Economic regions

2.8 billion manat ($1.66 billion)

19.9

Absheron

457 million manat ($268.8 million)

15.57

3.2

Aran

722 million manat ($424.7 million)

21.34

5.1

Upper Shirvan

66.98 million manat ($39.4 million)

21.95

0.5

Ganja-Gazakh

623.2 million manat ($366.6 million)

17.96

4.4

Guba-Khachmaz

216.16 million manat ($127.15 million)

17.9

1.5

Lankaran

246.3 million manat ($144.9 million)

20.76

1.7

Shaki-Zagatala

232.3 million manat ($136.6 million)

16.46

1.6

Upper Karabakh

57.1 million manat ($33.6 million)

23.95

0.4

Kalbajar-Lachin

0

0

0

Nakhchivan

206.2 million manat ($121.3 million)

14.47

1.4

(1 USD = 1.7 manat on Jan.28)

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Follow the author on Twitter: @jafarov_zeyni

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