BAKU, Azerbaijan, Apr. 23
By Zeyni Jafarov - Trend:
Banks and credit organizations of the Nakhchivan Autonomous Republic reduced the issuance of loans to legal entities and individuals by 2.1 percent at the end of the first quarter of 2021, Trend reports with reference to the report of Nakhchivan’s State Statistical Committee.
During the reporting period, loans worth over 48.3 million manat ($28.4 million) were issued to legal entities and individuals.
According to the report, 8.83 million manat ($5.19 million), or 18.3 percent, of the issued loans are short-term, and 39.5 million manat ($23.2 million), or 81.7 percent - long-term.
From January through March 2021, the total number of bank accounts in the autonomous republic exceeded 94,000, of which 81,650, or 86.8 percent, are active.
In Nakhchivan, in comparison with other economic regions of Azerbaijan, the lowest average interest rate on loans issued in the banking sector is applied, which is one of the serious factors in the development of the private sector.
(1 USD = 1.7 AZN on Apr.22)
---
Follow the author on Twitter: @jafarov_zeyni