Bank Of Baku

Azerbaijan increases overdue credits by 68%

Azerbaijan increases overdue credits by 68%
# 19 January 2011 10:21 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. As of December 1, 2010, the volume of loan given to individuals and legal entities by Azerbaijan-based bank-credit organizations rose 12.7% or AZN 1 bln to AZN 9.1 bln.

According to State Statistical Committee, the 43% of loan was given by government, 54.9% by private banks, 2.1% by non-banking organizations. AZN 6 545.8 mln was long-term, AZN 2 545.9 – short-term, AZN 458.1 mln – overdue credits. As the result, long-term loan rose 13.5%, short-term – 10.8% and overdue loan increased by 67.9%, compared to 2009.
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