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Manat loans accounts for 55% of bank lending in Azerbaijan

Manat loans accounts for 55% of bank lending in Azerbaijan

03 June 2009 15:03 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-ECONOMICS. As of May 1, loan lending totalled AZN 6 278.4 million in Azerbaijan, said the Central Bank of Azerbaijan.

According to the data, loans lent in the manat (national currency) accounted for 55.4% of lending, leaving 44.6% to loans in foreign currencies.

Manat loans increased by 17.2% and foreign-currency loans by 24.6% from a year ago, said the central bank.

39.6% of short-term loans and 47.1% of long-term loans were lent in foreign currencies, especially the US dollar.

97.6% of manat loans and 96.6% of foreign-currency loans were lent by banks and the rest by non-bank lending institutions.

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