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.

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