Majority of Azerbaijani banks not resumed consumer lending

Azerbaijan, Baku, Jan. 26/ Trend , N. Ismayilova/ Survey of Azerbaijani banks indicates that majority of them have not yet resumed consumer lending in 2009.

Banks, who planned to resume consumer lending in early 2009, said the process of resuming lending has not ended yet. Some banks, who continue lending, have toughened their lending policy which influenced business lending as well.

Rabita Bank, Nikoil Bank, Royal Bank, Azerbaijan Senaye Bank, Parabank, NBC Bank, Bank of Baku, Azerdemiryolbank, Kapital Bank, Access Bank, and Amrah Bank were polled for the survey.

Rabita bank said the bank resumed consumer lending worth 1,000 manat with 36-42 percent interest rate per year for 18-year term. The bank has toughened business lending which also requires property as a deposit for two years. Interest rates total 30-36 percent a year. It varied from 26 to 36 percent in 2008.

Nikoil Bank lends consumer loans worth over 3,000 manat. The bank also requires property as a deposit. The bank can resume small lending by late February. The bank issues loans in manat at interest rate of 22 percent per year. Earlier bank issued loans in euro at 22 percent per year. The bank stopped lending in euro in 2009.

Azerbaijan Senaye Bank said it has also suspended consumer lending. Business loans are issued for one-year term while they were issued for one to five year term last year. The interest rates increased from 24-26 percent in 2008 to 22-24 percent in 2009. 

NBC Bank continues car loaning. The bank temporarily stopped other kinds of loan.

Parabank issues only business loans for two years at 30-32 percent interest rate.

Bank of Baku also continues issuing all kinds of loans at a previous regime without any changes.

Azerdemiryolbank has not cancelled using consumer loans, but at present only individuals cooperating with the bank's company-partners can get loans.

Royal Bank stopped issuing business-loans, whilst the bank resumed issuing consumer loans. These loans are issued for two years with 30 percent of interest rate.

Amrah Bank still continues holding an expectant position without resuming loaning.

Kapital Bank resumed issuing loans with new and higher rates. Interest rates increased by one and half percent of interests on all loans. This step is the most optimum, because the bank intends to minimize its risks and losses, Kapital Bank's management said.

AccessBank also continues issuing all loans. The loan portfolio increased by 84 percent to surpass $200 million. The number of AccessBank's borrowing clients increased by 50 percent to more than 70,000, while this figure made up 46,000 people in late 2007.

"Despite the turbulence in the financial world, 2008 was very successful for AccessBank and our success increases day by day. More than 4,000 entrepreneurs got loans per month all over the country," General Manager of AccessBank Andrew Pospielovsky said.

Do you have any feedback? Contact our journalist at: [email protected]

New fruit processing plant built in Georgia
New fruit processing plant built in Georgia
Innovation Financing component of Georgian GITA supports  provision of grants
Innovation Financing component of Georgian GITA supports provision of grants
Georgian Meskhetian Brand Winemaking Company enters new markets
Georgian Meskhetian Brand Winemaking Company enters new markets
Loading Bars
Latest
Uzbekistan reveals its COVID-19 data for October 30
New fruit processing plant built in Georgia
Human Rights Watch confirms use of cluster munitions by Armenia to attack Barda
Several Azerbaijani districts under fire of Armenian Armed Forces
Latest situation on battlefront on October 30
Azerbaijan expands persimmon export geography
Denmark repeatedly increases import of Azerbaijani products
Azerbaijan's State Service to hold auction for five vehicles
Combat operations continued in direction of Aghdara, Khojavend and Gubadli - MoD
Several items of military equipment of Armenian Armed Forces destroyed - LIST
Every second operation in Azerbaijan carried out contactless - Visa
FM: Boosting cooperation with Iran priority of Afghan foreign policy
President Tokayev addresses International Forum on Northern Economic Cooperation
Turkey reports over 2,300 new COVID-19 patients
S. Korea reports 114 more COVID-19 cases, 26,385 in total
US to sell F-35 fighter jets to UAE, White House tells Congress
In Germany, car rams into group of passersby with one person killed, three injured
Moscow records another 69 coronavirus deaths
WHO registers over 479,000 COVID-19 cases in 24 hours worldwide
Facebook quarterly revenue beats estimates
Numerous sites hit by missiles attack on Azerbaijani Barda were in civilian areas - VICE News reporter (VIDEO)
Innovation Financing component of Georgian GITA supports provision of grants
VICE News highlights use of banned cluster munitions by Armenia to attack Azerbaijani Barda
Forces and equipment Armed Forces of Armenia destroyed (VIDEO)
Azerbaijan to establish embassy in Cuba
Strike on Azerbaijani is tragedy - Chairperson of Migration, Refugees, Displaced Persons Council of PACE
ICRC facilitates handover of combatants bodies killed in action during escalation of Karabakh conflict
Amnesty International verifies use of banned cluster bombs by Armenia to attack Azerbaijani Barda (PHOTO)
Azerbaijan avenges attack on Barda: Armenian units that subjected to fire civilian infrastructure, civilian population destroyed (VIDEO)
GUAM strongly condemns missile attacks on Azerbaijani cities by Armenia
French COJEP issues report on civilian casualties as result of Armenian attacks on densely populated Azerbaijani areas
Nizami Ganjavi International Center discusses renewed fighting between Armenia, Azerbaijan
Georgian Meskhetian Brand Winemaking Company enters new markets
Armenian Armed Forces' attempts to attack prevented in several directions - MoD
Azerbaijan issues statement on handing over bodies of killed servicemen to Armenia
Azerbaijan's MoD notes chaos, mass desertion in Armenian army
Azerbaijan eyes to reduce greenhouse gas emissions in upcoming years
Azerbaijan ratifies agreement on interaction of CIS member states' customs authorities
Azerbaijan reveals volume of tobacco production in Shaki district
UK increases import of Azerbaijani-made products
Georgia to cover utility fees of certain citizens starting from November
Canadian company to be engaged in gold mining in Georgia
Azerbaijani AFB Bank's net profit decreases
EBRD supports Georgian transport sector
No simple solution for Karabakh conflict, says Russian president
Azerbaijan approves law to rename 'Veng' village in Khojavand district into 'Chinarli'
Azerbaijani Prosecutor General's Office updates on woman killed following Armenia's missile fire
Azerbaijan to establish embassy in Cuba
Chairman of Azerbaijani community of Nagorno Karabakh calls on Canadian MP to apologize
Ombudsman of Azerbaijan sends protest letter to UNICEF regarding Armenian provocations
KAZ Minerals metals output on track to exceed full year production guidance
Reports about shelling of Russian border outpost false, says Azerbaijan's MoD
Servicemen of Armenian regiment refuse to take part in Karabakh hostilities
Russia making vigorous efforts to de-escalate Karabakh conflict as soon as possible - MFA
German allocates additional funds to Georgia for fighting COVID-19
Armenian Armed Forces shelling Azerbaijan’s Goranboy, Tartar, Barda
National Bank of Georgia sells funds at foreign exchange auction
World will lose heavily from enmity with Turkey and Azerbaijan, Turkish top official on Trend's 'Baku-Istanbul' teleconference (PHOTO/VIDEO)
Discussions related to durable resolution of Karabakh conflict ongoing constantly - OSCE (Exclusive)
CNPC Drilling Company in Turkmenistan opens tender to buy electric batteries
Number of high-ranking Armenian officials dismissed from their posts within month
One more Azerbaijani civilian killed by Armenian Armed Forces - top official
Azerbaijan sharply increases import of eggs from Georgia
Lebanese human rights defenders condemn Armenian vandalism in Beirut
Armenia once again violates ceasefire agreements - FACTS
Azerbaijan increases tea imports from Georgia
VTB Bank Kazakhstan's parent bank expected to facilitate bank's growth plans for 2020-2021
Azerbaijan appeals to UNICEF regarding Armenia's terror against Barda's civilians
Facebook gains court backing in document row with EU regulators
Commissioning of desalination plant in Kazakhstan's semi-desert zone postponed
Number of debit cards in Azerbaijan continues to grow
Georgia reduces imports of construction materials from Azerbaijan
Azerbaijan reduces import of cigarettes from Georgia
Residents of Barda fully confident in Azerbaijani army - Executive authority
Georgia increases oil import from Azerbaijan
Azerbaijan reveals details of casualties, injuries in Tartar inflicted by Armenian troops
Electricity production using renewable energy sources increases in Kazakhstan
Azerbaijan increases import of passenger cars from Georgia
Kazakhstan decreases imports from Austria
Precious metal prices in Azerbaijan down
Austria interested in further promoting economic co-op with Turkmenistan
People like Vladimir Yevseev call on Armenia to commit war crimes - Israeli expert
Ronaldinho films video message in support of Azerbaijan
Missile-hit area of Azerbaijan's Barda city targeted purposefully - Executive Office
Armenian military-political leadership to be punished soon – Azerbaijani prosecutor general
Kazakhstan, Spain trade down nearly threefold amid COVID-19
Bashkortostan boosts fuel export to Uzbekistan
President Ilham Aliyev calls President Recep Tayyip Erdogan
Azerbaijan confirms 483 more COVID-19 recoveries
Small industrial zone to be created in Uzbekistan’s Tashkent
First Vice-President Mehriban Aliyeva congratulates brotherly people of Turkey on 29 October-Republic Day
Kazakhstan, Austria agree on Action Plan of Kazakhstan-Austrian Business Council for 2021
Armenian leadership shelled Tartar ignoring visit of diplomats - President's aide
Azerbaijani currency rates for Oct. 29
China's premium car buyers drive VW back to profit
Iran reveals its COVID-19 data for October 29
Kraft Heinz third-quarter sales beat estimates
Bahar Azadi gold coin price again rising in Iran
Georgia has record high grape harvest in past 30 years
Int'l journalist sends Letter to Joe Biden in regards to his statement on Karabakh
All news