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Short-term bank loans account for Â¾ of lending in Azerbaijan

Short-term bank loans account for Â¾ of lending in Azerbaijan

11 March 2009 14:03 (UTC +04:00)

Baku. Vugar Israfilov - APA-Economics. Because of the fact that some banks run excess liquidity in Azerbaijan, Â¾ of bank loans are short-term, said the National Bank of Azerbaijan.
In January, about 61% of AZN 470.1 million worth of loans were lent for 6-12 months, up 52.2% in size on the same month last year. The share of short-term lending rose by 31 percentage points in comparison with January 2008.
At the same time, short-term loan lending grew by 39.3% in January while long-term lending jumped by 57.1% to account for 49.9% of loan lending.
Of the short-term loans, 95% was lent by banks and 5% by non-bank lending institutions.
International Bank of Azerbaijan took a share of 32.5% in short-term lending, leaving 68.5% to other commercial banks.
The bankâ€™s share in long-term lending was 49.7%.

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