Bank Of Baku

Azerbaijan sees 24% rise in troubled loans

Azerbaijan sees 24% rise in troubled loans
# 18 October 2012 12:15 (UTC +04:00)
Baku. Nicat Mustafayev – APA-Economics. As of September 1, 2012, the volume of local credits used in Azerbaijan’s economy grew by 17.1% to AZN 11.2 bn.

State Statistical Committee told APA that 34% of lending was realized by state, 63.2% - private banks, 2.8% - non-banking credit organizations.

During the reporting period, long-term loans made AZN 8,097.0 mln, short-term loans – AZN 3,060.8 mln, overdue credits – AZN 731.7 mln.

Compared to last year, long-term lending rose 25.4%, overdue credits grew by 23.5%, whereas short-term lending dropped 0.3%.
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