Short-term and long-term loans increased in 2012 in proportion

Residual lending to the country's economy grew in December last year at 678.1 million or 5.6% to 12,720.5 million manat.

According to the Central Bank of Azerbaijan, credit growth for the year reached 27.8% (previous year 8.6%). The share of overdue loans in the total figure was as of January 1 of this year 5.9% against 6.4% a year earlier.

Short-term loans for the year grew by 27.3%, and long-term loans - by 28.1%. The last remnant was 8835.4 million manat. The share of long-term debt amounted to 69.5%, an increase of 0.2%.

Of the total volume of credit investments 65% was contributed by private banks, 32.5% - the share of the country's largest IBA and 2.5% - the share of non-bank credit institutions.

In the real economy the banks granted 98.6% of all loans and in the financial sector - 1.4%. As of January 1, 2013, individuals were granted loans amounting to 4316.7 million or 33.9% of the total, in the sphere of trade and services - 2649.3 million or 20.8%, in the energy sector and natural resource-496.7 million or 3.9%, to construction and property - 1270.3 million or 10.0%, in industry and production - 1297.6 million or 10.2%, transport and communications - 805.9 million or 6.3% in agriculture and processing - 546.2 million or 4.3%, etc.

The share of foreign currency loans was 32.9%. At the end of 2011 the share of foreign currency lending to the economy amounted to 35.4%.

According to the regional structure of credit investments of 87.8 percent is the share of Baku. The capital also has 86.5 percent delinquency. The average lending rate in the country is 15.4%.

According to the Central Bank of Azerbaijan, the average rate of manat credits in December rose by 0.06 percentage points to 15.20%, for loans in foreign currency - by 0.18 percentage points to 15.80%. In annual terms manat resources decreased by 1.07 percentage points, the currency - by 0.99 percentage points As of January 1 this year, manat credits issued to individuals under the 18.25% per annum, the currency - at 22.06%. For legal entities, the figures were 13.32% and 13.22%, respectively. - 15V -