Baku. Vugar Israfilov – APA-Economics. The share of long-term loans lent by Azerbaijan-based banks and non-bank lending institutions over the past 12 months dropped to 33.1% from 57.8% of the total loan portfolio, said National Bank of Azerbaijan.
According to statistics, new long-term loans lent during January-February 2009 fell 75.3% year-on-year.
While the amount of long-term loans grew from AZN 3 088.9 million March last year to AZN 4 650.3 million this March, the growth rate fell by half and long-term loans dropped by 5.32% in February alone.
The share of long-term loans rose to 69.48% from 51.23% of the loan portfolio over the past two years because of a downswing in short-term loan lending.
Short-term loan lending dropped by AZN 247.3 million in February alone.
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