Lending up 9% in Azerbaijan
BAKU – Loan allocations in the Azerbaijani economy made up over 9.163 billion manats ($11.4 billion) in 2010, or 9 percent above the figure reported in 2009, according to the Central Bank.
The country’s only state-run bank invested nearly $4.8bn, 0.3 pct less than the amount posted on January 1, 2010. Privately owned banks loaned over $6.3bn (a 17.4 pct increase), including $580 million (a 20.1 pct increase) lent by foreign-owned banks. Non-bank credit institutions invested the remaining $239m (an 8.2 pct increase).
Loans allocated in the national currency made up $7.3bn (a 20 pct increase) and those in foreign currencies $4.1bn (a 6.3 pct decrease).
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