Baku, Azerbaijan, Oct. 4
By Anvar Mammadov – Trend:
Azerbaijan’s PASHA Bank OJSC intends to reduce the volume of problem loans until the end of 2017, Hayala Naghiyeva, member of the bank’s Executive Board, told reporters in Baku Oct. 4.
“The share of problem loans in the bank’s total loan portfolio was 12 percent in 2016, and 13.1 percent – at the end of the first half of 2017. Growth is connected with the debts on loans, which were issued 5-6 years ago. Given that a major part of our loan portfolio consists of loans in manats, the processes in the market do not affect us greatly,” said Naghiyeva.
Naghiyeva added that the share of problem loans, issued during the past two years, is only 1-2 percent in PASHA Bank’s loan portfolio.
It should be noted that the bank’s loan portfolio increased by eight percent since early 2017, totaling 1.26 billion manats as of June 30.