Azerbaijani Azfinansbank to issue loans
Azerbaijan, Baku, Feb. 17 / Trend , N.Ismayilova/
Azerbaijani Azfinansbank plans to issue loans in the second half year, the Bank's Supervisory Council's Chairman Khayal Mammadkhanli said.
"We plan to issue loans in May or June and have not decided kinds of these loans, yet," Mammadkhanli said.
At present the bank is examining possible kinds of loans to issue to people and has not decided whether it will issue consumer loans, he said.
People's deposits, as well as the bank's income and capital will be used to issue loans.
"Now, of course, there are some problems to draw funds of foreign investors, but I think the bank can finance loans by own funds," Mammadkhanli said.
In December 2008, the National Bank of Azerbaijan (NBA) granted a license to Azfinansbank to launch its banking activity.
The new bank was formed with the authorized capital worth 10 million manats.
Azfinansbank was the second business bank, which received a banking license in 2008. Nakhchivanbank Open Joint Stock Company (OJSC) with 10 million manats authorized capital received a license in August, as well.
On Feb. 17, the official exchange rate is 0.8063 manat to $1.
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