Bank Standard Increases Granting of Loan by 35%

Business Materials 28 October 2008 18:02 (UTC +04:00)

Azerbaijan, Baku, 28 October / corr Trend U.Ismaylova / "The Azerbaijani Bank Standard follows a loaning policy, directed to support effectiveness of lending," Javid Guliyev, first deputy CEO of the bank, said.

"We increased the effectiveness of lending consumer loans and strengthened cooperation with Magnit and Unitech shops, Guliyev said.

Bank Standard contunies granting of mortgage and large corporative loans.

"Certainly, we felt impact of global financial crisis. International loan markets are closed and the bank follows the loaning policy, which targets at minimal loss for clients. Definite changes are introduced into conditions of granting loans, but it will not impact the loan portfolio," Guliyev said.

By the end of September the bank lent a total of AZN 441.6mln with an increase of 36% (AZN 117mln).