Loan allocations on upward trend in Azerbaijan
BAKU - Loan allocations in the Azerbaijani economy increased 36.8% in January-June 2010 in comparison with the same period of last year to reach over 8.840 billion manats ($11.05 billion).
Overdue loans accounted for 408.6 million manats ($510.75 million) of the amount, the Central Bank said.
Short-term credits totaled about $2.934bn, or 26.6% of the allocations, while long-term ones made up $8.116bn (73.4%).
State-run banks provided 45.8% of the overall volume of lending, while private banks loaned 52.2%. Non-bank credit institutions invested the remaining 2% of the amount.
Banks operating with a share of foreign capital channeled some $2.730bn into the economy, or 24.7% of the total amount of the allocated loans, while fully foreign-owned banks allotted $563.6m, or 5.1%.
39.9% of the loans were allotted in foreign currency.
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