Loan allocations up 10 pct in Azerbaijan
BAKU – Loan allocations in Azerbaijan made up around 9 billion manats (about $11.4 billion) as of July 1, 2011, 10 percent over the figure reported a year ago, according to the country’s statistics committee.
35.2 pct of the funds were allotted by the country’s only state-run bank, while 64.8 pct were provided by privately owned lenders.
66.9 pct of the credits were long-term, while 26.9 pct were short-term.
Overdue loans accounted for about $558 million, or 6.2 pct of the total amount of allocations.
The amount of long-term loans increased 7.3 pct, while that of short-term loans – 3.1 pct, and the amount of overdue loans rose 36.5 pct in comparison with the first half of 2010.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!