Bank lending in Azerbaijani districts up

Bank lending in Baku and Azerbaijani districts reached 15.2 billion manat ($8.9 billion) in early March 2020, which is 14.6 percent more compared to the same period of 2019, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to CBA, loans worth 12.3 billion manat ($7.2 billion) were issued in Baku as of March 1, which is 4 times more than in the districts. At the same time, loans in national currency in Baku amounted to 7 billion manat ($4.1 billion), or 46 percent of the total lending volume in Baku.
As of March 1, the average annual interest rate on loans in Azerbaijan amounted to 11 percent and to 9.15 percent in Baku.
Distribution of loans in the Azerbaijani districts as of March 1, 2020:
Lending (in 1,000 manat) |
Average interest rate (%) |
Share of total loans |
|
Azerbaijan |
15.3 million ($9 million) |
11.02 |
100 |
Baku |
12.3 million ($7.2 million) |
9.14 |
80.4 |
Economic regions |
2.3 million ($1.3 million) |
17.09 |
19.6 |
Absheron |
545,693 ($320,995) |
15.89 |
3.6 |
Aran |
775,677 ($456,280) |
21.19 |
5.1 |
Mountainous-Shirvan |
73,685 ($43,344) |
21.,20 |
0.5 |
Ganja-Gazakh |
639,264 ($376,037) |
18.52 |
4.2 |
Guba-Khachmaz |
210,146 ($123,615) |
18.85 |
1.4 |
Lankaran |
287,571 ($169,159) |
20.40 |
1.9 |
Shaki-Zagatala |
227,835 ($134,020) |
16.74 |
1.5 |
Upper-Karabakh |
60,529 ($35,605) |
23.90 |
0.4 |
Kalbajar-Lachin |
0 |
0.00 |
0.0 |
Nakhchivan |
174,039 ($102,375) |
14.20 |
1.1 |
(1 USD = 1.7 AZN on April 1)
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!