The National Bank of Azerbaijan said the figure is a 99% rise on the same period last year. The share of long-term loans increased 8.3% over the past year to 69.1%.
At the same time, the volume of short-term loans increased 38.1% to AZN 3 039.1 million.
According to the methodology of the central bank, loans to be repaid (or amortized) over a period of time exceeding 1 year falls under the category of long-term loans.
As of October 1, the new loans totaled AZN 7 566.9 million, up 67% on a year ago.
The long-term loans account for 56.1% (AZN 4 247.7 million) and short-term loans made up AZN 43.9% (AZN 3 319.1 million) of the newly lent loans.
The amount of long-term loans rose 88.2%, compared to January-September last year.
| New Loans (January-September, 2008) | New Loans (January-September, 2007) |
Total | 7 566.9 | 4 513.9 |
Short-term: | 3 319.1 | 2 274.6 |
- up to 1 month | 472.1 | 380.4 |
- 1-3 months | 429.0 | 319.3 |
- 3- 6 months | 585.1 | 304.5 |
- 6-9 months | 369.1 | 191.9 |
- 9- 12 months | 1463.9 | 1 078.5 |
Long-term: | 4 247.7 | 2 257.4 |
- 1- 3 years | 3 664.5 | 1 916.9 |
- 3- 5 years | 406.2 | 212.8 |
- 5- 10 years | 147.8 | 40.3 |
- over 10 years | 29.2 | 87.4 |
As shown in the table, the most popular term for a loan is 1-3 years in Azerbaijan. 1-3-year loans account for 48.4% of loans.
Most of these loans were borrowed for 1-2 years.
Interestingly, consumer loans account for 40% of the total loan lending in the country and consumer loans are usually lent for 1-2 years. Besides, business loans are also usually repaid over a period of up to 2 years.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
