Bank Melli Iran Baku Branch changes loan policy
Azerbaijan, Baku, March 14 / Trend , N.Ismayilova/
Bank Melli Iran Baku Branch changed its loan policy, the bank's Azerbaijani Branch Deputy Head Anar Ibrahimov said.
"As consumers and corporate loans are preferred at the moment, the bank decided to expand a list of cities whose residents will receive loans," Ibrahimov said.
Earlier, loans were issued to only clients registered in Baku, but now the bank issues loans to residents of Sumgayit, Khirdalan and other regions near Baku, he said.
The bank issues consumer loans to10,000 manat and corporate - to 50,000 manat, as well as examines issues to issue loans over this amount. The bank grants loans with 20 percent of interest rates.
"The central office also permitted to resume car loaning with expanding portfolio," Ibrahimov said. "Although volumes of car loaning have been expanded, the branch's management is still examining an issue to begin loaning."
Earlier, the bank stopped car loaning due to change of the central office's policy.
The branch does not intend to issue car loans due to unstable situation on the car market and low purchase capability of this market.
As of March 1, Bank Melli Iran's loan portfolio totaled 5.789 million manat, deposit portfolio - 3.812 million manat. Bank's assets reached 18.66 million manat, authorized capita stock - 10 million manat and aggregate capital 11.361 million manat. Bank's revenues totaled 152,600 manat for the last two months.
On March 14, the official exchange rate is 0.8045 manat to $1.
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