Azerbaijan, Baku, Sept. 20 /Trend A.Akhundov/
Azerbaijani DemirBank forecasts growth of loan portfolio to 302 million manats by late 2013 and to 340-350 million manats in 2014, Deputy Chairman of the Bank's Board Rauf Akhundov told Trend on Friday.
According to Akhundov at present, the bank's loan portfolio is 297 million manats.
The bank waived the aggressive plans to increase consumer lending and focuses on the development of micro-crediting, he said.
"The bank intends to be a universal bank. Our goal is to ensure that 30 percent of the loan portfolio accounts for medium and large loans to the corporate sector, another large part - to the micro credits and a small part - to consumer loans," Akhundov said.
The first commercial bank of Azerbaijan, DemirBank started its operations in October 1989. Shareholders of the Banks include large international financial institutions, such as the European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO). DemirBank has "B" rating with "stable" forecast of Fitch Ratings and Planet Rating.
The official exchange rate for Sept. 20 is 0.7844 AZN/USD.
