Azerbaijan, Baku, Feb. 13 /Trend /
Azerbaijani banks increased lending to the Azerbaijani economy by 27.8 percent in 2012, the Azerbaijani Central Bank's statistics report said today.
According to the CBA, as of 2012, the banks delivered loans totaling 12.720.5 billion manat (including 8.522.8 billion manat in national currency (67 percent) and 4.197.7 billion manat in freely convertible currency (33 percent)
As of 2011, the figure was equal to 9.950.3 billion manat (6.426.5 billion in national currency and 3.523.8 billion manat in freely convertible currency).
Of the total portfolio, loans worth 748.8 million manat (5.9 percent) were overdue compared to 633.8 million manat as of January 1, 2012.
Statistics of overdue loans does not include similar loans of non-bank credit institution Aqrarkredit. Overdue loans increased by 18.14 percent as of 2012.
The share of overdue loans in Azerbaijani banks is moderate. According to the CBA, no disturbing situations with these loans are observed.
Short-term loans as of 2012, amounted to 3.885.1 billion manat (including overdue loans worth 385.4 million manat) compared to 3.051.2 billion manat (including overdue loans worth 326.2 million manat) as of 2011.Short-term credit in the economy increased by 27.33 percent in 2012. As of early Jan. 2013, 35.3 percent of short-term loans were in freely convertible currency (1.370.8 billion manat).
Long-term loans amounted to 8.835.4 billion manat (including 363.4 million manat overdue loans) as of 2012 compared to 6.889.1 billion manat (307.6 million overdue loans) as of 2011.
The long-term loans increased by 28.1 percent as of 2012. As of early January 2013, 32 percent of long-term loans accounted for freely convertible currency (2.826.9 billion manat).
Around 43 banks operate in Azerbaijan.
The official exchange rate is 0.7848 AZN / USD as of Feb. 13.