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Azerbaijan sees 25% rise in provision of crediting

11 March 2014 10:17 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of February 1, 2014, Azerbaijan-based credit organizations’ provision of crediting made AZN 15,536.3 mln, up AZN 3,057.0 mln or 24.5% compared to a year earlier, Central Bank of Azerbaijan told APA-Economics. At the same time, provision of crediting rose AZN 113.4 mln or 0.7% in January, 2014.

Household loans made AZN 6,358.9 mln or 40.9% of total loans. Household loans rose AZN 1,906.9 mln or 42.8% year-on-year. As it seems, growth of consumer lending makes 62.4% of total index. At the same time, growth rate in this category exceeded total growth index by 1.7 times.

Share of construction and property loans made 12.9%, of trade and service – 14.2%.

As of February 1, 2014, overdue credits made AZN 815.1 mln, up AZN 51.3 mln or 6.7% in annual comparison. At the same time, share of overdue credits dropped from 6.1% to 5.2%.