OREANDA-NEWS. November 11, 2009. The Central Bank of Azerbaijan reported that as of 1st October the domestic banks extended loans for AZN 7.78 bn (including AZN 4.3 bn in national currency and AZN 3.47 bn in freely convertible currency) versus AZN 7.629 bn (AZN 4.245 bn and AZN 3.38 bn in) by 1st September, AZN 7.229 bn (AZN 3.856 bn and AZN 3.37 bn) by 1st August, AZN 6.46 bn (AZN 3.469 bn and AZN 2.99 bn) by 1st July, AZN 6.356 bn (AZN 3.446 bn and AZN 2.909 bn) by 1st June, AZN 6.278 bn (AZN 3.47 bn and AZN 3.042 bn) by 1st May,  AZN 6.22 bn (AZN 3.47 bn and AZN 2.749 bn) by 1st April, AZN 6.69 bn of loans (AZN 3.55 bn and AZN 3.139 bn) by 1st March, AZN 7.2 bn (AZN 3.6 bn and 3.59 bn) by 1st February, AZN 7.16 bn (AZN 3.649 bn and AZN 3.5 bn) by 1st January 2009 and AZN 6.6 bn (AZN 3.648 bn and AZN 2.956 bn respectively) by 1st October 2008.

Out of overall portfolio by October the overdue loans totaled AZN 309.4 million versus AZN 274.9 million by 1st September, AZN 262.4 million by 1st August, AZN 242.8 million by 1st July, AZN 209.2 million by 1st June, 200.8 million by 1st May, AZN 195.9 million by 1st April, AZN 183.4 million by 1st March, AZN 176.5 million by 1st February, AZN 159.8 million by 1st January 2009 and AZN 139.3 million by 1st October 2008. Statistics of overdue loans does not take into account similar loans of non-bank credit organization Aqrarkredit.

Short-term loans amounted AZN 2.159 bn (including AZN 181.7 million of overdue loans) against AZN 2.133 bn (AZN 151.4 million) by 1st September, AZN 2.116 bn (AZN 141.2 million) by 1st August, AZN 2.119 bn (AZN 127.8 million) by 1st July, AZN 2.113 bn (AZN 112.2 million) by 1st June, AZN 2.096 bn (AZN 116.2 million) by 1st May, AZN 2.07 bn (AZN 118.1 million) by 1st April, AZN 2.04 bn (AZN 1.1 bn) by 1st March, AZN 2.289 bn (AZN 107.3 million) by 1st February, AZN 2.295 bn (AZN 96.7 million) by 1st January 2009.

By 1st October of the year 42.9% of short-term crediting and 42.3% of overdue loans fell on the loans in freely-convertible currency. Long-term crediting reached AZN 5.62 bn (AZN 127.7 million) versus AZN 5.496 bn (AZN 123.4 million) by 1st September, AZN 5.112 bn (AZN 121.2 million) by 1st August, AZN 4.344 bn (AZN 114.9 million) by 1st July, AZN 4.242 bn (AZN 97 million) by 1st June, AZN 4.422 bn (AZN 84.6 million) by 1st May, AZN 4,151.1 million by 1st April, AZN 4.645 bn (AZN 73.2 million) by 1st March, AZN 4.9 bn (AZN 69.3 million) by 1st February and AZN 4.867 bn (AZN 63.1 million) by 1st January of the year. By 1st October 45.3% of long-term crediting and 29.4% of overdue loans fell on the share of freely-convertible currency.

The CBA indicates that as of 1st October 2009 the country’s only state-run bank disbursed loans for AZN 3.7 bn and private banks for AZN 3.89 bn.

Credit portfolio of banks with foreign participation by 1st October totaled AZN 2.033 bn, including AZN 363.2 million of fully foreign banks’ loans.

By 1st October 2009 average rate on bank crediting in national currency made up 14.63% against 17.45% by 1st January 2009. With year-on-year inflation of 2.1%, real loan rate made 12.53% versus (-3.35%) following 2008. Average rate on bank crediting in freely-convertible currency reached 16.35% versus 14.52%.

As of 1st October average rate on bank crediting in national currency for a legal entity made up 12.15% versus 14.87% by 1st January 2009 and real rate 10.05% against (-5.93%). Average rate of a bank loan in freely-convertible currency for a corporate customer totaled 13.88% versus 12.37%.

By 1st October 2009 average rate on bank loan in national currency for an individual reached 20.57% versus 21.53% by 1st January 2009 and real rate 18.47% versus 0.73%. Average rate of a bank loan in freely-convertible currency for an individual customer totaled 22.25% versus 21.52%.