Loans Issued under 24.1% of Annual Interest in Lankaran Economic Region

The highest average interest rate on bank loans in the first half of the year was registered in the Lankaran economic region (24.1% with the issued credits in the amount of 293 million 427.4 thousand manats).

According to the Central Bank of Republic of Azerbaijan (CBA), active crediting in the regional branches of commercial banks involved businesses and individuals in the Aran region - 835 million 237.4 thousand manats at an average rate of 23% per annum, Ganja-Gazakh - 744 million 662.7 thousand manats (19.7%) and Absheron - 640 million 937 thousand manats (19.4%). The total volume of bank lending to customers in the regions amounted to 3 billion 310 million 72.2 thousand manats by July 1 (5.2% YTD).

The leaders are residents of the capital, where the loan portfolio of banks added 10.3% in the first half of 2015 - up to 16 billion 978 million 390.6 thousand manats (83.7% of all credit investments). The average interest rate in Baku is 11.8% per year. By the way, the volume of overdue loans in the capital is 1 billion 115 million 156.3 thousand manats (6.6% in Baku).

Manat credits are still prevalent - in the capital they are 9 billion 142 million 704.3 thousand manats. In foreign currency there is 7 billion 835 million 686.3 thousand manats. The average interest rate on credits in the national currency was 12.4% in Baku by July 1, while in foreign currency it was 11.2%. --17D-