Banks take the lead on lending for Nakhchivan’s economy


February 19, Fineko/abc.az. The amount of loans the banks gave in the Nakhchivan Autonomous republic for 2019 has been published.

ABC.AZ reports that according to Central Bank's NAR Office, as of 31 December 2019 the amount of banks' credit investments in the autonomy’s economy totaled AZN 171.19 million.

Out of the agricultural loans given for 2019, the loans for production of crop products amounted to AZN 1.32 million (almost 2.8-fold more than in 2018) and for production of livestock products about AZN 9.98 million (almost 2-fold more than in 2018).

In general, in comparison with 2018, along with these areas it was given 5-fold more loans for construction and almost 6-fold more for grain growing.

In this period the private banks predominated with 83.7% among the credit institutions lending in Nakhchivan. The next places are occupied by state-governed banks with 12.6% and non-bank credit organizations with 3.7%.