Azeri banks lent 55% of loans in national currency

Azeri banks lent 55% of loans in national currency
# 10 November 2008 14:33 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of October 1, Azerbaijan-based banks lent AZN 3 648.1 million or 55.2% of loans in the national currency, said the National Bank of Azerbaijan.
The total loan portfolio reached AZN 6 604.7 million. The volume and share of loans lent in the national currency increased 45.1% and 1.5% respectively from early this year.
61.3% of the national currency loans was long-term loans.
78.7% of foreign-currency loans totaling AXN 2 956.6 million was long-term loans.
The only state-owned bank- International bank of Azerbaijan took a 42.1% share in lending.
Interestingly, the bank’s share in national-currency loans was 23.2% and 65.3% in foreign-currency loans.
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