Bank Of Baku

Azerbaijan increases overdue credits by 50%

Azerbaijan increases overdue credits by 50%
# 16 March 2011 14:48 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. As of February 1, 2010, the volume of loan given to individuals and legal entities by Azerbaijan-based bank-credit organizations rose 8.5% to AZN 9 149.8 bln.

According to State Statistical Committee, the 42.9% of loan was given by government, 54.9% by private banks, 2.2% by non-banking organizations. Long-term credits increased by 8.5% to AZN 6 598.5 mln, short-term loans by 8.6% to AZN 2 551.3 mln and overdue credits by 50% to AZN 497 mln.
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