Azerbaijan sees rise in troubled loans

Azerbaijan sees rise in troubled loans
# 25 February 2013 07:58 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. As of January 1, 2013, the volume of local credits given by Azerbaijan-based commercial banks and credit organizations to population grew 27% to AZN 12.7 bn.

State Statistical Committee told APA that 32.5% of lending was realized by state, 65% - private banks, 2.5% - non-banking credit organizations.

During the reporting period, long-term loans made AZN 8.8 bn, short-term loans – AZN 3.9 bn, overdue credits – AZN 748.8 mln.

Compared to last year, long-term lending rose 27.5%, short-term lending grew by 25.8%, and troubled loans soared 18.1%.

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