...

Fitch expects stabilization of problem loans level in Azerbaijan

Business Materials 5 July 2010 12:01 (UTC +04:00)

Azerbaijan, Baku, July 5 / Trend N.Ismayilova /

Fitch Ratings expects the level of bad loans in the Azerbaijani banking system to stabilize during 2010-2011, Fitch Ratings Banking Analysis Unit Director in Moscow Vladimir Markelov told Trend.

"According to Fitch, asset quality is the main problem of the banking sector at the moment," he said. "Bad debt is significant and the level of bad loans reaches 15-20 percent in some banks, while at other banks the figure is approaching 30 percent."

Markelov added that the further dynamics of bad debt will largely depend on the macroeconomic environment in the country, which in turn is largely determined by oil revenues.

Latest

Latest