Azerbaijan, Baku, Aug. 18 / Trend N.Ismayilova /
Azerbaijani banks increased lending to the Azerbaijani economy by 2.3 percent in June and by 1.3 percent compare to June 2010, the Central Bank of Azerbaijan (CBA) reported.
As of early July, the banks provided loans totaling 8. 955.9 billion manat (including 5. 534.9 billion manat in national currency and 3.421 billion in hard currency) compared to 8.750.4 billion manat (5. 346 billion manat in national currency and 3.404.4 billion manat in hard currency) as of early June and 8. 840.7 billion manat (5.311.3 billion manat and 3. 529.4 billion manat) as of July 1, 2010.
Of the total portfolio, loans worth 557.9 million manat were overdue compared to 551.8 million manat as of June 1, about 408.6 million manat as of July 1, 2010. Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit.
Short-term loans as of early July amounted to 2. 967 billion manat (including overdue loans worth 281.4 million manat) compared to 2.891.9 billion manat (including overdue loans worth 281.8 million manat) as of June 1, about 2. 347.8 billion manat (183.6 milion) as of July 1, 2010.
In June, the amount of short-term credit in the economy increased by 2.6 percent, but increased by 26.4 percent compared to June 2010. Some 39.5 percent short-term credit and 34.9 percent of overdue loans were in hard currency as of late February.
Long-term loans amounted to 5 .988.8 billion manat (including overdue loans worth 276.4 million manat) compared to 5.858.5 billion manat (270.1 million) as of June 1, about 6. 492.9 billion manat (180.7 million) as of July 1, 2010. In June, the amount of long-term loans increased by 2.2 percent, compared to June 2010 - decreased by 7.8 percent. As of late June, some 37.5 percent of long-term loans and 27.6 percent of overdue loans were in hard currency.
As of early July, the only state bank of the country (the International Bank of Azerbaijan) granted loans totaling 3.153.9 billion manat with a specific weight of 35.2 percent (increased by 1.6 percent in June), and private banks - 5.582.9 million manat with a specific weight of 62.3 percent (2.9 percent). The remaining 2.4 percent fall on the share of non-bank credit organizations, which received loans worth 219.1 million manat.
The official exchange rate is 0.7864 manat to $1 on Aug. 18.