10:50, 8 September 2009 Page views 326 views

During the year, banks of Azerbaijan have reduced the volume of personal lending by 1.9 percent

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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.


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