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Azerbaijan sees bank loans soar in past two months

Azerbaijan sees bank loans soar in past two months

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

Baku. Vahab Rzayev â€“ APA-Economics. As of June 1, total loan book of Azerbaijan-based commercial banks stood at AZN 6 180 million, up 4.3% from a year ago, said the Central Bank of Azerbaijan.

According to statistics, bank loans declined by 11.9% or AZN 836.5 million during January-May.

After a decline of AZN 978.7 million in loans during the first quarter, loans surged by AZN 64.6 million in April and AZN 77.6 million in May.

This trend is a sign of recovery in the banking sector.

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