BAKU, Azerbaijan, November 24. The volume of loans issued in the capital and regions of Azerbaijan increased by 2.98 billion manat ($1.75 billion), or 15.35 percent, as of October 31, 2023, compared to the same period in 2022, amounting to 22.45 billion manat ($13.2 billion), Trend reports.
The data from the Central Bank of Azerbaijan (CBA) showed that loans in the amount of 17.1 billion manat ($10.06 billion) were issued in Baku during this period, which is 3.22 times higher than the total volume of loans issued in all regions of the country.
Besides, in Baku, loans in national currency amounted to 12.89 billion manat, or $7.58 billion (75.25 percent of the total volume of loans in Baku).
Moreover, the average annual interest rate in Azerbaijan was 12.54 percent; in Baku, it was 11.02 percent.
Credit allocation table (as of September 30, 2023):
|
Loan volume |
Average interest rate (%) |
Share of total deposits |
|
|
Azerbaijan |
22.45 billion manat ($13.2 billion) |
12.56 |
100 |
|
Baku |
17.1 billion manat ($10.06 billion) |
11.05 |
76.32 |
|
Economic areas, including: |
5.3 billion manat ($3.1 billion) |
23.68 |
|
|
Nakhchivan |
380.48 million manat ($223.8 million) |
13.51 |
1.69 |
|
Absheron-Khizi |
829.07 million manat ($487.69 million) |
15.96 |
3.69 |
|
Mountainous Shirvan |
157.1 million manat ($92.4 million) |
19.67 |
0.70 |
|
Ganja-Dashkesan |
691.9 million manat ($407 million) |
16.77 |
3.08 |
|
Karabakh |
397.6 million manat ($233.8 million) |
19.32 |
1.77 |
|
Gazakh-Tovuz |
420.9 million manat ($247.59 million) |
18.42 |
1.87 |
|
Guba-Khachmaz |
402.7 million manat ($236.8 million) |
16.9 |
1.79 |
|
Lankaran-Astara |
531.6 million manat ($312.7 million) |
19.1 |
2.37 |
|
Central Aran |
457.5 million manat ($269 million) |
18.59 |
2.04 |
|
Mil-Mughan |
243 million manat ($142.9 million) |
19.13 |
1.08 |
|
Shaki-Zagatala |
435.7 million manat ($256.29 million) |
16.34 |
1.94 |
|
Eastern Zangazur |
- |
- |
- |
|
Shirvan-Salyan |
369.6 million manat ($217.4 million |
18.75 |
1.65 |
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.