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Volume of loans issued in Azerbaijan’s Baku and regions unveiled

Finance Materials 22 August 2022 15:20 (UTC +04:00)
Volume of loans issued in Azerbaijan’s Baku and regions unveiled
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, August 22. The volume of loans issued in Azerbaijan’s capital - Baku and regions increased by 3.5 billion manat ($2 billion) as of July 31, 2022, or 23.53 percent compared to the same period last year (from 14.9 billion manat or $8.7 billion to 18.4 billion manat or $10.8 billion), Trend reports citing the Central Bank of Azerbaijan (CBA).

According to CBA, loans worth 14.3 billion manat ($841.1 million) were issued in Baku during this period, which is 3.34 times higher than in the regions.

Loans in national currency in Baku accounted for 10 billion manat ($5.8 billion, 76.13 percent of total lending in Baku).

The average annual interest rate on loans in the country amounted to 12.12 percent, and in Baku - 10.68 percent.

Loan distribution table (as of July 31, 2022):

Volume of lending

Average interest rate

Share of total loans

Azerbaijan

18.4 billion manat ($10.8 billion)

12.12 percent

100 percent

Baku

14.3 billion manat

10.68 percent

77.46 percent

Economic regions, including:

4.1 billion manat

22.54 percent

Nakhchivan

293.1 million manat ($172.4 million)

13.04 percent

1.59 percent

Absheron-Khizi

715.4 million manat ($420.8 million)

15.29 percent

3.87 percent

Mountainous Shirvan

118 million manat ($69.4 million)

19.47 percent

0.64 percent

Ganja-Dashkasan

557.1 million manat ($327 million)

16.34 percent

3.01 percent

Karabakh

303.7 million manat ($178.6 million)

18.74 percent

1.64 percent

Gazakh-TovuzZ

314.1 million manat ($184.7 million)

18.25 percent

1.7 percent

Guba-Khachmaz

310.2 million manat ($182.4 million)

16.9 percent

1.68 percent

Lankaran-Astara

402.7 million manat ($236.8 million)

18.65 percent

2.18 percent

Central Aran

365.6 million manat ($209.7 million)

18.18 percent

1.98 percent

Mil-Mughan

191.8 million manat ($112.8 million)

19.02 percent

1.04 percent

Shaki-Zagatala

302.5 million manat ($177.9 million)

16.67 percent

1.64 percent

East Zangazur

-

-

-

Shirvan-Salyan

292.2 million manat ($171.8 million)

18.88 percent

1.58 percent

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