Azerbaijani BOA’s loan collections increase in 1Q17
Baku, Azerbaijan, May 4
By Azad Hasanli – Trend:
In the first quarter of 2017, Azerbaijan’s Baku Collection Agency (BOA) increased loan collections by 20 percent compared to the same period of 2016, BOA Director Samir Mustafayev told Trend May 4.
He noted that the company’s total loan portfolio has also increased.
“Our portfolio grew by approximately 20-22 percent and this growth is likely to continue. Meanwhile, we are in talks with four large Azerbaijani banks that want to transfer to us a rather large volume of problem loans,” he said.
Mustafayev reminded that the agency has been working on process automation since early 2017, adding the new system will allow automating certain processes and also cutting costs by 30-40 percent.
The system is expected to be applied by late May, according to him.
Mustafayev earlier said the new system will be able to make calls to debtors in automatic mode.
The Baku Collection Agency has been operating in Azerbaijan since late 2012 and is currently one of the largest collection agencies in the country.