Finance

Home page

Finance

Loan-lending seems to drop in Azerbaijan

20 November 2008 16:15 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of November 1, the total loan lending by Azerbaijan-based banks stood at AZN 6 522.7 million, up 66.1% on the same period last year and up 43.2% on early this year, said the National Bank of Azerbaijan.
In general, there has been an uptrend in loan lending in recent year.

The amount of net loans grew by 1.2% or AZN 77.7 million in October alone. Given that average monthly growth in lending was AZN 196.9 million for January-October, we see a decline in the last month.
Analysts predict this tendency to continue because there are some problems with refinancing foreign borrowings.