Baku, Azerbaijan, Jan. 13
By Huseyn Veliyev - Trend:
Azerbaijani postal operator Azerpoct LLC has deployed a service that allows repayment of consumer loans to Expressbank OJSC in all postal offices throughout the country, Azerpoct LLC Financial Services and Marketing Department Head, Yashar Ahmadov told Trend on Jan. 13.
He said a contract was signed with ExpressBank in September 2013. Currently the postal operator renders services for repayment of consumer loans issued to customers by Unibank and Yapı Kredi Bank Azerbaijan. Calculations on loan transfers are carried out by the postal operator's system.
Ahmadov said that currently talks are taking place with Access Bank, Bank Respublika, Bank of Baku and non-banking credit organisations FINCA Azerbaijan and TBC Kredit for deploying services on repayment of loans. These banks are expected to join the service in 2014, according to preliminary data.
Repayment of loans via the post offices allows banking organisations to extend credit programmes in the regions and be represented there increasing the number of borrowers.
The postal operator's banking services are provided via an automated corporate information system which already includes 900 branches and offices of the postal communication.
The commission fee for this service is one percent of each payment. Payment of loans is accepted in Azerbaijani manats. A commission fee of 0.5 percent is collected in cases when the repayment of the loan is made in foreign currency.
Translated by E.A.
Edited by S.M.