Overdue loans repayment up in Azerbaijan

Business Materials 22 August 2017 14:19 (UTC +04:00)

Baku, Azerbaijan, Aug. 22

By Anvar Mammadov – Trend:

Stabilization of the economic situation in the world, and in particular in Azerbaijan, has affected the overdue loans repayment process, Samir Mustafayev, the head of BOA (Baku Collection Agency), told Trend.

“At the present time, due to stabilization of the economic situation, as well as the gradual restoration of Azerbaijani population’s solvency, borrowers, mainly those who were faced with the temporary financial difficulties, have began to repay their debts again,” Mustafayev said.

The BOA is always ready to help such clients in debt repayment, he noted.

“We understand that certain clients, categorized as 'responsible,' have had their difficulties at the time. Thus, we offer them a way out of the current situation,” Mustafayev said. “I would like to note that, recently, the percentage of the repaid loans has increased. Compared to the last year, we witness 20 percent increase in loan repayments."