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Troubled loans increases by 30% in Azerbaijan

Troubled loans increases by 30% in Azerbaijan

19 March 2012 11:58 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-ECONOMICS. As of February 1, 2012, banking and credit organizations of Azerbaijan directed AZN 10.1 bln-credit funds to development of economy, down 10.2% compared to last year.

The State Statistical Committee says 33.2% of credit investment was carried out by state, 64.1% - by private banks, 2.7% - by non-banking credit organizations. 69.3% of credits made by long-term loans, AZN 6.4% â€“ overdue loans.

Compared to last year, the volume of short-term loans made AZN 3,090.1 mln, long-term credits â€“ AZN 6,994.5 mln, overdue loans â€“ AZN 643.1 mln. So, within last year, short-term loans rose 21.1%, long-term loans â€“ 6%, troubled credits â€“ 29.4%.

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