Long-term loans increased by a quarter

Residual lending to the economy increased in August 2012 331.4 million or 3.1% to 11,157.8 mln.

According to the Central Bank of Azerbaijan, increased lending in the past 12 months was at 1,629.4 million or 17.1%. The share of overdue loans in the total value exceeded on 1 September this year 6.5% against 6.2% a year earlier.

Short-term loans for the year decreased by 10.5 million or 0.3%, while the long-term - increased by 1,639.9 million or 25.4%. The remnant was 8,097 mln AZN. The share of long-term debt amounted to 72.6% (against 67.8% a year earlier). The share of private banks in total credit portfolio reached 63.2%, the share of the country's largest International Bank of Azerbaijan for the year decreased to 34%, the remaining 2.8% was contributed by non-bank credit organizations

In the real economy the banks granted 98.4% of all loans and in the financial sector - 1.6%. As of September 1, 2012, individuals were granted loans amounting to 3,942.2 million or 35.3% of the total, in the sphere of trade and services - 2,873.6 million or 25.8%, in the energy sector and natural resource - 400.2 million or 3.6%, construction and property - 1,063.7 million or 9.5%, in industry and production - 644.1 million or 5.8% , transport and communications - 420.1 million or 3.8%, in agriculture and processing - 516.4 million or 4.6%, etc.

The share of foreign currency loans was 32.9%. The corresponding date last year, the share of foreign currency lending to the economy was 38.5%.

According to the regional structure of credit investments of 87.2 percent is the share of Baku. The capital also has 83.3 percent of overdue. The average lending rate for the country in August amounted to 15.5% (a 0.2% decrease compared to the previous month).

According to the Central Bank of Azerbaijan, the average rate of manat credits in August fell by 0.22% to 15.61%, for loans in foreign currency increased by 0.09% to 15.52%. In annual terms manat resources decreased by 0.80 percentage points, while currency resources - by 0.90 percentage points. As of September 1, manat loans were given to individuals under 18.56% per annum, and currency loans - under 22.31%. For legal entities, the figures were 13.31% and 12.46%, respectively. - 15V -