Baku. Vugar Israfilov – APA-Economics. Loans lent by Azerbaijan-based banks and non-bank lending institutions during March totaled AZN 1 120.8 million, up 16.7 times on February, said the Central Bank of Azerbaijan.
Loans lent during January-March amounted to AZN 1 658.2 million, down 12.3% from a year ago.
The central bank attributed the surge in March to the fact that repayment of loans more than doubled AZN 1 124.6 million.
Loan investment rose by 25.8% year-over-year to AZN 6 221.3 million.
The amount of loan investment accounted for 40.3% of GDP (non-oil sector).
Deposits dropped by 13.6% to AZN 3 286 million in March.
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