Association predicts growth of bank lending in Azerbaijan
Baku, Azerbaijan, July 26
By Ilkin Shafiyev – Trend:
The Azerbaijan Banks Association expects the growth of the loan portfolio of banks in 1H2018, Chairman of the Association Zakir Nuriyev told Trend.
"If the current pace continues and banks continue lending, we can expect a sufficient growth. In particular, this can be referred to lending to small and medium-sized businesses. We cannot provide more accurate statistics, because we have not yet received the necessary data for June," Nuriyev said.
He noted that a reduction in the number of problem loans can also be observed presently.
"This is conditioned by such factors as servicing the debts of the population, debt write-off at the expense of real estate, restructuring. The growth of income of citizens can also be mentioned as a factor. In general, banks have made quite large concessions to their borrowers, for instance, reduction of interest rates, extension of period of loan repayment. According to the information available to me, the number of court cases related to problem loans has decreased almost twice since the beginning of the year," Nuriyev said.
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