Credit to the economy has reached nearly 11.5 billion manat

Residual lending to the economy increased in September 2012, 323 million or 2.8% to 11,480.8 mln.

According to the Central Bank of Azerbaijan, increased lending in the past 12 months was 1813.1 million or 18.8%. The share of overdue loans in the total value exceeded on October 1 of this year 6.6% against 6.4% a year earlier.

Short-term loans increased over the year by 108.1 million or 3.4%, while the long-term - increased by 1705.2 million or 26.1%. The residue was last equaled 8228.2 million manat. The share of long-term debt amounted to 71.7% (against 67.5% a year earlier). The share of private banks in total credit portfolio reached 63.4%, the share of the country's largest International Bank of Azerbaijan for the year decreased to 33.8%, the remaining 2.7% was contributed by non-bank credit organizations

In the real economy from the banks granted 98.4% of all loans in the financial sector - 1.6%. As of October 1, 2012, individuals granted loans amounting to 4042.5 million or 35.2% of the total, in the sphere of trade and services - 2846.1 million or 24.8%, in the energy sector and natural resource-403.6 million or 3.5%, to construction and property - 1103.4 million or 9.6%, in industry and production - 774.9 million or 6.7%, transport and communications - 439.1 million manat or 3.8%, in agriculture and processing - 528.8 million or 4.6%, etc.

The share of loans in foreign currency amounted to 32.5%. The corresponding date last year, the share of foreign currency lending to the economy amounted to 37.7%.

According to the regional structure of credit investments of 88 per cent accounted for by Baku. The capital also has 84.7 percent of overdue. The average lending rate for the country in September amounted to 15.4% (a 0.1% decrease compared to the previous month).

According to the Central Bank of Azerbaijan, the average rate of manat credits in September rose by 0.04% to 15.43%, for loans in foreign currency increased by 0.01% to 15.53%. In annual terms manat resources decreased by 0.64 percentage points, while currency - by 0.81 percentage points As of October 1, manat loans were given to individuals under the 18.48% per annum, the currency - at 22.42%. For legal entities, the figures were 13.47% and 12.37%, respectively. - 15B -