The share of overdue loans in total lending has fallen to 5.7%

Residual volume of lending to the economy of the country has increased in June 2013 367.8 million or 2.7% to 13774.1 million manat.

According to the Central Bank of Azerbaijan, the increase in lending over the past 12 months amounted to 3,039.3 million or 28.3%. The share of overdue loans in the total exceeded 5.7% on July 1, 2013 versus 6.5% a year earlier.

Short-term loans for the year rose to 310.2 million or by 10.6%, while long-term loans - up to 2,729 million or 35%. The residue was 10,534 mln manats. The share of long-term debt amounted to 76.5% (against 72.7% a year earlier).

The share of private banks in total credit portfolio decreased to 62.9%, the share of the country's largest International Bank of Azerbaijan amounted to 34.5% and the remaining 2.6% were non-bank credit organizations

In the real sector of the economy the banks granted 98.6% of all loans and in the financial sector they provided 1.4%. As of July 1, 2013, individuals were granted loans amounting to 5,199 million or 37.7% of the total, in the sphere of trade and services - 2,162.5 million or 15.7%, in the field of energy and natural resources -317.6 million or 2.3%, construction and property - 2,132.2 million or 15.5%, industry and manufacturing - 1,342.1 million or 9.7%, transportation and communications - 442.9 million manat or 3.2%, agriculture and processing - 671.3 million manat or 4.9%, etc.

The share of loans in foreign currency amounted to 29.2%. At the corresponding date last year, the share of foreign currency lending was 34% of the economy.

According to the regional structure of credit investments accounted for 88.8 per cent share of Baku. The capital also provided for 90.8 percent of overdue accounts. The average lending rate in the country in June amounted to 14.3%.

According to the Central Bank of Azerbaijan, the average rate of the manat credits in June rose by 0.02% to 14.21%, for loans in foreign currency - by 0.10% to 14.71%. In annual terms manat resources decreased by 1.44 percentage points, while currency - by 0.74%. As of July 1 this year, manat loans were given to individuals under 11.60% and 11.18%, respectively. - 15V -