Regional crediting in Azerbaijan shrunk by 17%

Baku. 18 December. REPORT.AZ/ The crediting in regions of Azerbaijan decreased by 16.74% or 415.0 million AZN as compared with 2016 and amounted to 2,064 billion as of November 1. 16.99% of the total credit investment across the country accounted for regions. It means the special weight of crediting in regions increased by 1.32 basis point as compared with the same period in 2016.

Report informs referring to the monthly report of the Central Bank of Azerbaijan (CBA)

According to report, the largest loan was invested in Aran economic district (496.6 million AZN). At the same time, the highest average interest rate (annual 22.6) was observed in this region.

As of November 1, total loan investment in the country’s economy amounted to 12,152 billion AZN and 10,088 billion AZN or 83.01% of that amount covered the Baku city. While the average interest rate for loans in the country amounted 12.0% annual percentage rate of charge (APR), in Baku it equaled to 10.6%, in regions it varied from 8.5 to 22.6%.