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Azerbaijan reveals volume of loans issued in capital and regions

Finance Materials 27 September 2023 13:27 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, September 27. The volume of loans issued in the capital and regions of Azerbaijan increased by 3.2 billion manat ($1.9 billion), or 17.04 percent as of August 31, 2023 compared to the same period in 2022, amounting to 21.8 billion manat ($12.8 billion), Trend reports.

The Central Bank of Azerbaijan (CBA) said loans in the amount of 16.6 billion manat ($9.7 billion) were issued in Baku during this period, which is 3.19 times higher than the total volume of loans issued in all regions of the country.

In addition, in Baku, loans in national currency amounted to 12.6 billion manat, or $7.4 billion (75.94 percent of the total volume of loans in Baku).

Moreover, the average annual interest rate in Azerbaijan was 12.53 percent; in Baku, it was 10.98 percent.

Credit allocation table (as of August 31, 2023):

Loan volume

Average interest rate

Share of total deposits

Azerbaijan

21.8 billion manat ($12.8 billion)

12.53 percent

100 percent

Baku

16.6 billion manat ($9.8 billion)

10.98 percent

76.17 percent

Economic areas including:

5.2 billion manat ($3.1 billion)

13.42 percent

23.83 percent

Nakhchivan

372.9 million manat ($219.4 million)

15.89 percent

1.71 percent

Absheron-Khizi

825.2 million manat ($485.4 million)

19.60 percent

3.78 percent

Mountainous Shirvan

154.1 million manat ($90.6 million)

16.76 percent

0.71 percent

Ganja-Dashkesan

677.6 million manat ($398.6 million)

19.37 percent

3.11 percent

Karabakh

387.3 million manat ($227.8 million)

19.45 percent

1.78 percent

Gazakh-Tovuz

418.3 million manat ($246.1 million)

18.26 percent

1.92 percent

Guba-Khachmaz

392.7 million manat ($231 million)

16.93 percent

1.80 percent

Lankaran-Astara

519.2 million manat ($305.4 million)

19.01 percent

2.38 percent

Central Aran

453.4 million manat ($266.7 million)

18.61 percent

2.08 percent

Mil-Mughan

237.8 million manat ($139.9 million)

19.32 percent

1.09 percent

Shaki-Zagatala

396 310 000

17.13 percent

1.82 percent

Eastern Zangazur

-

-

-

Shirvan-Salyan

363.5 million manat ($213.8 million

18.74 percent

1.67 percent

The volume of loans issued in the capital and regions of Azerbaijan amounted to 19.6 billion manat ($11.5 billion) as of January 1, 2023.

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