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15%-rise predicted centralized credit market in 2006

Business Materials 22 April 2006 11:43 (UTC +04:00)

The National Bank of Azerbaijan (NBA) does not expect essential rise in the portfolio of centralized credit resources in 2006, Trend reports.

Elman Rustamov, the chairman of the Managing Board of the NBA, the money program of the NBA in the direction of placement of centralized credit resources are very conservative and no splashes are expected in this market.

According to Rustamovs forecasts, rise in centralized credit resources will not exceed the growth pace of money base (20-25%), and will be 15%. If to take into consideration the fact that last year the portfolio of NBA in these credits made up 65.42m manats, one can guess this year it will reach 75.23m manats. In the first quarter the total amount of centralized credit market made up 24.98m manats. The credit resources of the NBA are placed by 9% per annum (NBAs rate).

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