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Loan lending grows 18% in Azerbaijan

Loan lending grows 18% in Azerbaijan

20 October 2009 08:26 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. As of September 1, Azerbaijanâ€™s banking system has saw an 18.2% year-on-year rise in loan lending to AZN 7.6 billion, said the State Statistical Committee.

According to statistics, loan extension grew by AZN 1.2 billion from a year ago.

Of this, 47.6% was lent by state-owned bank, 50% by private banks and 2.4% by non-bank lending institutions.

72% of loans were long-term ones and 3.6% were overdue.

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