Baku, Azerbaijan, May 23
By Anvar Mammadov – Trend:
Azerbaijan’s collection agency BOA is expanding cooperation with the country’s banking sector, director of the agency Samir Mustafayev told Trend May 23.
He added that presently, the agency is already working with seven banks.
"We are gradually expanding our cooperation with the Azerbaijani banks,” Mustafayev said. “We have been recently negotiating with three banks. We have already signed an agreement with two of them. We are holding negotiations on some legal issues with the rest banks.”
“Since early 2018 we have concluded contracts with two more banks,” he added. “So we are currently working with seven banks. Of course, our goal is to cover the entire banking market, so we will continue our negotiations with the rest of the country's banks."
He said that the banks gradually began to realize the advantages of transferring problem loans to the collection agencies.
"As you know, we switched to a completely electronic customer service system, which reduced our costs and allowed us to reduce the cost of our services," Mustafayev said.
He said that presently, about 50 million manats account for the collection agency’s cases.
Earlier, Mustafayev told Trend that in 2018 the agency plans to increase its portfolio by 30 percent.
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