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Azerbaijan posts an 11% year-on-year decline in new loans

Azerbaijan posts an 11% year-on-year decline in new loans

11 March 2009 08:59 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. Loans lent by Azerbaijan-based banks and non-bank lending institutions during January totaled AZN 470.1 million, said the National Bank of Azerbaijan.
The amount of new loans dropped by 10.8% from a year earlier while the amount of loans lent in total is 50.9% up from a year ago.
The amount of new loans exceeded repayment of loans debts, increasing the outstanding amount of loans at AZN 7 201.3 million as of February 1.
In January, 97.5% of loans were lent by banks and 2.5% by non-bank institutions.

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