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Azerbaijan-based cbanks see loan portfolio on decline in January

Azerbaijan-based cbanks see loan portfolio on decline in January

26 February 2009 13:30 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of February 1, the total loan portfolio of Azerbaijan-based commercial banks stood at AZN 6 967.1 million, up 50.5% or AZN 2.337 million from a year ago, said the National Bank of Azerbaijan.
According to the official data, the aggregate loan portfolio dropped 0.3% or AZN 21.3 million from January 1.
The decline in loan lending is natural because of the global financial crisis. At present the consumer loans account for 36-37% of the lending in total.
Prior to this, the loan portfolio first dropped in July, 2007 â€“ 3.7% or AZN 129.3 million.

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