Bank Of Baku

Azerbaijan sees credit extension soar

Azerbaijan sees credit extension soar
# 02 June 2009 16:54 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Loans lent by Azerbaijan-based banks in April 2009 increased by 20.4% year-on-year to AZN 6 278.4 million, said the Central Bank of Azerbaijan.

As of May 1, loans lent to the private sector shot up by 19.2% year-on-year to AZN 5 711.2 million, accounting for 91% of total credit extension.

Besides, loans lent during January-April 2009 amounted to AZN 2 381.8, down 20.8% from a year ago.

As of May 1, the bulk of loan portfolio went to non-financial businesses, up 22.9% from a year ago. This accounts for 60.9% of total loan lending.

 (mln. man.)


 

01.05.09 

Share (%) 

Change as of 01.05.08 (%)

Non-financial businesses 

3 826,1 

60,9 

+22,9 

Trade and service 

1 263,8 

20,8 

-9,9 

Energy and natural resources 

344,2 

7,2 

-6,0 

Agriculture  

353,5 

5,8 

+53,1 

Construction and property 

646 

10,6 

+53,9 

Industry and production 

499,7 

8,2 

+41,9 

Transport and communications  

424,3 

7,0 

+76,0 

Public administration 

0,7 

0,01 

+7 fol

Other loans  

294,1 

4,8 

+3 fold

Individuals  

2 251,5 

37,1 

+12,8 

Total 

6 077,6 

100 

+19 



* This doesn’t include overdue loans
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