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    Real estate and construction loans increased in Azerbaijan

    Household loans drop by 18 percent

    Baku. 15 October. REPORT.AZ/ Loans including mortgage for construction and purchase of real estate amounted to AZN 1 592.1 mln. this year. 

    Report was informed in the Central Bank of Azerbaijan. 

    The bank informs that loans increased by 6.8 percent in August and 17.1 percent comparing to previous year. 

    According to report on September 1, 2016, share of loans to this sector in overall financing of economy by financial institutions reached 9.5 percent. It is 0.6 percent higher in monthly and more by 2.7 percent in annual comparison. 

    Notably, according to the same report, household loans amounted to AZN 6 272,7 mln. (37,2 percent) which is although 0.6 percent higher than previous month, 8.4 percent lower in comparison with same period of previous year. 

    Overall amount of loans in country’s economy in first eight months of this year was AZN 16 839,7 mln., 9.5 percent or AZN 1 592,9 mln. of which were overdue credits.  

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