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Lending Level Reduced for All Positions
Banks and non-bank institutions, whether private or state-run, have reduced the level of their business lending.
According to the statistics of the Central Bank of Azerbaijan (CBA), by September 1 they invested in the local economy 16 billion 839.7 million AZN (net minus of 22.5% since the beginning of the year, without taking into account two-time drawdown of the manat as a result of last year's devaluation).
The share of overdue loans is 9.45% of the total loan portfolio, or 1 billion 592.9 million AZN (+ 5.6% YTD).
By September 1 state banks issued 5 billion 512.6 million AZN and private banks issued 10 billion 816 million AZN (both -22%), with a small proportion of non-bank credit organizations.
Issued in AZN was 8 billion 755.1 million manat (minus 20.4%), in a foreign currency – AZN 8 billion 84.5 million (minus 24.7%).
Traditional "champion" in lending was the household - 6 billion 272.7 million manats, with the share in the portfolio of 32.3% (minus 8% to the beginning of the year), that is, people that repay consumer credits do not take extra money, in contrast to previous years.
Next comes trade and services - 2 billion 504 million manats (14.9% of the total portfolio), construction and real estate - 2 billion 21.1 million manats (12%), industry and the manufacturing sector - 1 billion 321.4 million manats (7.8%), transport and communications - 1 billion 175.8 million manats (7%). Agriculture and processing was invested 400.7 million manats (2.4%), energy, chemistry and natural resources - 370.3 million manats (2.2%), etc. --17D-
Economics
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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