Consumer loans of households since the beginning of the year increased by 30 %

BAKU/08.10.13/TURAN : From January to September this year, the Central Bank of Azerbaijan has reached single-digit inflation , stable exchange rate of manat , financial stability and deepening financial intermediation , said chairman of CBA Elman Rustamov at a meeting of the Cabinet of Ministers on the results of socio - economic development nine months of 2013 and the upcoming challenges .

According to him, during the reporting period, the average annual inflation rate was 2.3%. The real income of the population increased more than 5%. To prevent a sharp appreciation of the central bank sterilized the $ 1.7 billion, while foreign exchange reserves of the structure increased by 13 %, reaching $ 13.3 billion.

According to preliminary data, bank assets grew by 14%, and credit investments - more than 17 %. Loans to households, agriculture and processing have increased by 30 %, transport and communications - 12%. Savings of the population, compared with the beginning of the year increased by approximately 20 % to 6.1 billion manat and capital position the sector to be satisfactory. During this time, consolidated assets increased by more than 19 %, the capital adequacy against the norm of 12% was 17 %. The net profit of the banking system as a whole, compared to the same period last year increased more than 2 times. The process of reducing the average interest rates on loans and deposits continues.

According to the chief banker of October 1 through Azerbaijan Mortgage Fund lending institutions of more than 2,000 people issued a mortgage loan in the amount of 80 million manat. The credit portfolio of the fund reached $ 500 million manat , the number to get a mortgage - 13 000. During this period, opportunities expanded to enter preferential mortgage, a system of "e-mortgage." Continued expansion of the regional impact in the financial sector - 33 new branches of banks opened, along with 5 new sub-branches.

Through the National Payment System payments volume, reaching 90 billion manat , 2.3 times higher than the gross domestic product . Continued development of the infrastructure of the payment cards, the number of payment cards reached 5.3 million units , the number of ATMs - 2.4 thousand , while the number of POS terminals - 36000 . - 17D-