Loan allocations down
Azerbaijan`s banks distributed loans worth 470
million manats ($580 million) in January 2009, or 10.8% below the
same period in 2008, the central bank said.
The amount of consumer credits tangibly decreased, while business loans increased in the fast-growing South Caucasus republic.
Most of the loans were long-term. The average interest rate charged under the loans was 18.75%, or 0.7% over January 2008. A lion`s share of the credits - 86.5% - were disbursed to companies and enterprises operating in the capital, Baku.
The amount of consumer credits tangibly decreased, while business loans increased in the fast-growing South Caucasus republic.
Most of the loans were long-term. The average interest rate charged under the loans was 18.75%, or 0.7% over January 2008. A lion`s share of the credits - 86.5% - were disbursed to companies and enterprises operating in the capital, Baku.
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