Azerbaijan, Baku, April 30 / Trend N. Ismayilova /
Share of problem loans are lower than world standards in Azerbaijani banks, Azerbaijani Banks Association head Eldar Ismayilov said on April 30.
"General economic policy is so strong in Azerbaijan that totally share of problem loans is low in the country. This figure changed within the last 3-4 months. This figure is lower than world standards," Ismayilov said.
Information concerning this problem is compiled and considered by Central Bank and the Azerbaiajni Ministry of Finance, as well as Azerbaijani Banks Association to solve this issue and render support to entrepreneurs, he said.
"Banks take into account that current world economy suffers crisis and terms of granted loans can be softened," Ismayilov said.
According to Central Bank of Azerbaijan, as of March 1 banks have given loans in the amount 6692.5 million manat (including 3553.6 million manat in national currency and 3139 million manat in stabile currency) compared to 7201.3 million manat of loans as of February 1 (including 3610.6 million manat in national currency and 3590.7 million manat in stabile currency), 7163.2 million manat (3649 million manat and 3514.2 million accordingly) as of January 1, 2009 года and 4812.2 million manat (2653.1 million manat and 2159.1 million manat) as of March 1, 2008.
Lends and grants in the amount of 183.4 million manat of total portfolio were overdue compared to 176.5 million manat as of February 1, 159.8 million manat as of January 1, 2009 and 108.2 million manat as of March 1, 2008 года. Statistics of overdue loans does not take into account similar lends of Aqrarkredit non bank loan organization.
On April 30, the official exchange rate is 0.8034 manat to $1.
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