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Consumer lending dwindles in Azerbaijan

Consumer lending dwindles in Azerbaijan

12 February 2009 15:19 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of January 1, the amount of consumer loans lent by Azerbaijan-based banks stood at AZN 2 334.9 million, up 40.9% on a year ago.
The National Bank of Azerbaijan said the figure contracted in the final quarter of 2008 despite a continuous uptrend during 2008.
According to the statistics, consumer lending decreased from AZN 2 433 million to AZN 2 365 million in October, to AZN 2 354 million in November and to AZN 2 335 million in December (by AZN 98 million in the fourth quarter).
At the same time, the share of consumer loans in the bank loans began to drop.

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