Reduce the cost of lending to the economy in August, an average of one and a half percent

BAKU/10.10.13/TURAN : Residual volume of lending to the economy of the country increased in August 2013 to 255.8 million or 1.8% to 14,455.1 million manat.

According to the Central Bank of Azerbaijan , the increase in lending over the past 12 months amounted to 3,397.3 million or 30.7 %. The share of overdue loans in the total reached on September 1 this year, 5.2% against 6.6 % a year earlier .

Short-term loans for the year rose to 381.6 million or 12.9 %, while the long-term - up to 3015.7 million or 37.2%. The residue was last equaled 11,112.7 million manat. The share of long-term debt amounted to 76.9 % ( against 73.2 % a year earlier).

The share of private banks in total credit portfolio decreased to 62.7 % , the share of the country's largest International Bank of Azerbaijan grew to 34.6 %, the remaining 2.7 % were non-bank credit organizations

In the real sector of the economy by the bank issued 98.96% of all loans in the financial sector - 1.04%. As of September 1, 2013 , individuals granted loans totaling 5572.6 million or 38.6% of the total, in the sphere of trade and services - 2206.9 million or 15.3% , in the field of energy and natural Resources -318 , 5 million or 2.2% , to construction and property - 2239.4 million or 15.5% , in the sphere of industry and manufacturing - 1413.1 million or 9.8% in the sphere of transport and communications - 482.5 million manat or 3.3 % , in the sphere of agriculture and processing - 695.7 million manat or 4.8 %, etc.

The share of loans in foreign currency amounted to 29%. At the corresponding date last year, the share of foreign currency lending economy was 33.3 %.

According to the regional structure of credit investments accounted for 87.6 per cent share of Baku . On the capital and 85.9 percent of overdue . The average lending rate in the country in August amounted to 14.1 % (previous month, it was 15.5 %).

According to the Central Bank of Azerbaijan , the average rate of the manat credits in August fell by 0.07 % to 14.26% , for loans in foreign currency - by 0.27 % to 14.56 %. In annual terms manat resources decreased by 1.13 percentage points, while currency - by 0.96 percentage points As of September 1 this year, the manat loans were given to individuals under the 18.21 % and 21.20 %, respectively. For legal entities , the figures were 11.45% and 10.89 %, respectively. - 15V -