During the year, banks of Azerbaijan have reduced the volume of personal lending by 1.9 percent
The Central bank of Azerbaijan (the National Bank of Azerbaijan, NBA) states that volumes of personal lending in the country heavily lag behind the numbers of non-financial organizations.
According to NBA, by August, 1, 2009, individuals have got credits on 2.271 billion manats ($2.82 billion) that is 1.9 percent less, than the volume of personal lending a year ago. At the same time, non-financial organizations has lent 4.695 billion manats ($5.830 billion, 19.2 percent growth on annual basis). In the whole the amount of loans for the national economy has totaled 6.966 billion manats ($8.650 billion), having increased by 2.2 percent on an annual basis.
On August, 1, the aggregate credit portfolio of banks has hit a record and totaled 7.229 billion mantas, or $8.977 billion (13.6 percent growth on an annual basis) and the volume of bad debts has totaled 262.4 million manats, or $325.8 million, what is 2.4 times more than it was a year ago.