Azerbaijan, Baku, Dec. 22 / Trend , N.Ismayilova /Many Azerbaijani banks suspended the issue of consumer credits again. Restoration of consumer crediting is expected not earlier than in 2009. Some banks, which continue the issue of credits, intensified credit policy, and this affected the business-crediting system.
The banks which were questioned by Trend are Rabita Bank, Nikoil, Royal Bank of Baku, Azerbaijan Senaye Bank, Bank of Baku, Parabank, NBC Bank, Mugan Bank, UniBank, Azerdemiryolbank and Kapital Bank.
Rabita Bank said that at present bank issues only business- credits with the period of two years and under the guaranty of property. The yearly rate on credits is from 26% to 36%.
Nikoil bank issues consumer credits for the sum of more than AZN 3,000 but it requires the guaranty of property. Bank said that the periods of restoration of issue for smaller consumer credits have not been defined. Bank did not stop the issue of business- credits, but reduced two years period to one year. Nikoil bank issues business- credits in manats on the rate of 27% and in Euro on the rate of 22%.
Azerbaijan Senaye said that it stopped the issue of consumer credits. Bank issues business- credits in the previous regime for the period from one year to five years.
Unibank slowed down the issue of consumer credits, after reducing the sum of issues by 80% from the end of August.
NBC Bank said that the bank continues the issue of auto-crediting. Bank issues business- credits with the individual approach. The maximum sum of business- credit composes AZN 10,000.
Parabank confirmed that issues all forms of credits, but with individual forms of rates.
Bank of Baku said that it continue the issue of all forms of credits in the previous regime without any changes.
Azerdemiryolbank said that the bank has never suspended the issue of consumer credits, but only individuals will be able to obtain credit from now, who collaborate with the companies - partners of bank.
Royal Bank of Baku and Mugan bank said that the issue of credits was stopped; however, they failed to say the period of restoration.
According to the chairman of the board of Kapital Bank Rauf Rzayev, bank restored the issue of credits under new increased rates. Rates grew by 1-1.5% of annual on all types of credits. This package of measures is most optimistic for the bank, because Kapital Bank intends to minimize its risks and losses, said Rzayev.
Banks, which have suspended the issue of consumer credits, said the restoration of crediting should expect only in the next year.
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