Azerbaijan, Baku / corr Trend I.Khalilova / The Austrian bank Creditanstalt, a member of the UniCredit Group, cannot expand its credit portfolio to Azerbaijan due to the low capitalization of the Azerbaijani banking system, manager of the Austrian bank, Ryszard Golec, said that at present the portfolio of Austrian banks in Azerbaijan is €30mln (with the consideration of agreement on issue of syndicated credit, signed on 13 June.
The major part of credits fall to the International Bank of Azerbaijan and the smallest - Azerdemiryolbank and UniBank.
"Azerbaijani economy develops rapidly and the banks are developing, but still remain small. We can finance from 10% to 15% of the banks' capital, but their capitalization does not allow for a credit line for them," manager of Austrian bank Creditanstalt said.