Lending up 36% in Q1
Loan allocations in the Azerbaijani economy increased 36.4% in
January-March 2010 in comparison with the same period of last year
to reach over 8.485 billion manats ($10.606 billion).
Overdue loans accounted for 355.9 million manats ($444.8 million) of the amount, according to the Central Bank.
About $2.861bn, or 27% of the total bulk of allocations, was made up by short-term credits, while $7.745bn (73%) – by long-term ones as of April 1, 2010.
State-run banks invested $4.903bn, or 46.2% of the overall volume of lending, in the economy, while private banks loaned $5.472bn, or 51.6%. Non-bank credit institutions invested the remaining $229m, or 2.2%.
Banks operating with a share of foreign capital channeled some $2.61bn into the economy, or 24.6% of the total amount of the allocated loans, while fully foreign-owned banks allotted $516m, or 4.9%.*
Overdue loans accounted for 355.9 million manats ($444.8 million) of the amount, according to the Central Bank.
About $2.861bn, or 27% of the total bulk of allocations, was made up by short-term credits, while $7.745bn (73%) – by long-term ones as of April 1, 2010.
State-run banks invested $4.903bn, or 46.2% of the overall volume of lending, in the economy, while private banks loaned $5.472bn, or 51.6%. Non-bank credit institutions invested the remaining $229m, or 2.2%.
Banks operating with a share of foreign capital channeled some $2.61bn into the economy, or 24.6% of the total amount of the allocated loans, while fully foreign-owned banks allotted $516m, or 4.9%.*
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