Baku, Azerbaijan, Oct. 17
By Taleh Mursagulov - Trend:
The Azerbaijani Collection Agency BOA is negotiating with some banks to repurchase problem loans, the Agency’s Director Samir Mustafayev told Trend Oct. 17.
"Negotiations are at the initial stage," Mustafayev said, without revealing the details.
He noted that at the present moment there are already several proposals. At the same time, Mustafayev stressed that some Azerbaijani banks are not ready to sell loan portfolios at real prices.
According to the data of the Central Bank of Azerbaijan, the problem loans of the country's credit organizations in 1H2018 amounted to 1.75 billion manats, or 14.4 percent of the total volume of loans issued. Compared to the same period last year, the volume of problem loans decreased by 3.6 percent, and their share in the total loan portfolio increased slightly.
The BOA Collection Agency LLP has been operating in Azerbaijan since the end of 2012, and today, it is one of the largest collection agencies in the country.