Azerbaijan, Baku, Oct. 5 / Trend N. Ismayilova /
The Azerbaijani Central Bank (CBA) states about stabilization of the situation with overdue loans in local banks, Rashad Orujev, the CBA head of the department for supervision over credit institutions, said.
"The increase in problematic loans over the past six months stopped. The situation stabilized. Banks have made progress in collecting overdue loans. We expect even more positive results by late 2010," he said.
Azerbaijani banks granted loans amounting to 8788.6 million manat by late August compared to 8656.2 million manat on August 1, and 7629.8 million manat on September 1, 2009.
As of Oct. 5, the official exchange rate is 0.8024 manat to $1.