More than four-fifths of all loans issued to residents of Baku

In the first half of 2014 the portfolio of local banks on loans to customers in the capital Baku, was 14,089,039,600 manats (5.7% as of 1 July last year).

According to the Central Bank of Azerbaijan, banks prefer to lend in the capital, whose share of the end of June stood at 84.1% of total credit investments. The volume of overdue loans is 736 927 000 manats or 5.23% of the capital credits.

Most acceptable average loan rate (13%) is also inherent to Baku, the Republic credits are issued on average at a rate of 14.3% per annum. In foreign currency loans issued under the average of 13.4%.

Comparison of short-and long-term loans in the capital is as follows: first issued 2,988,497,900 AZN second - 11,100,541,700 manats. While long-term loans in the national currency are issued at the rate of 12.4%, in foreign currency - 13.2%.

The volume of lending to regional customers by July 1 totaled 2,665,757,300 manats (26.9% per year). Commercial banks prefer lending to businesses and individuals in Aran economic region - 928 853 300 manat (average rate of 21.5% per annum) and in Absheron economic region - 537 841 600 manats (19.2%). Followed by a large margin are Ganja-Gazakh economic region - 353 283 000 manats (22.3%) and Lankaran economic region - 281 332 900 manats (23.6%). Lending in other regions is negligible. - 17D-

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