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.