Azernews.Az

BAKU – Loan allocations in the Azerbaijani economy made up over 8.78 billion manats (almost $11 billion) in January-August 2010, 15.2 percent over the same period of last year, the Central Bank told AssA-Irada.

Loans worth about $3.05bn, or 27.8 pct, were short-term, while those totaling $7.92bn were long-term credits.

Overdue loans accounted for $529.6m of the amount.

State-run banks provided 44 pct of the overall volume of lending, while private banks loaned 53.9 pct. Non-bank credit institutions allocated the remaining 2.1 pct of the amount.

Banks operating with a share of foreign capital channeled some $2.73bn into the economy, or 24.9 pct of the total amount of the allocated loans, while fully foreign-owned banks allotted $578.2m, or 5.3 pct.

62 pct of the loans were allotted in the national currency.