Loan allocations in Azeri economy up 10 pct
BAKU – Loan allocations by banks operating in Azerbaijan made up almost 9.153 billion manats ($11.441 billion) in January-February 2011, or 9.7 percent over the same period of 2010, according to the country’s central bank.
Overdue loans accounted for about $636 million of the
amount.
72.7 pct of the credits were long-term, while the remaining 27.3
pct short-term.
The country’s only state-run bank allocated nearly $4.926bn (43.1 pct), while privately owned banks loaned about $6.252bn (54.7 pct), and non-bank credit institutions invested the remaining $261m (2.2 pct).
Loans allocated in the national currency made up $7.36bn (64.3 pct) and those in foreign currencies $4.08bn (35.7 pct).
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