Baku, Azerbaijan, Feb. 21
By Sara Israfilbayova – Trend:
The improvement of the process of handling court cases on problem loans in Azerbaijan may be an important impetus for solving this issue rapidly and crediting the economy through the returned funds, Zakir Nuriyev, chairman of the Azerbaijan Banks Association (ABA), told Trend.
“Presently, over 500,000 court decisions on credit issues are being considered,” he said.
Nuriyev stressed that according to the data as of late 2018, the share of problem loans in the portfolio was 12.1 percent, while this figure was 13.8 percent at the beginning of the year.
"In nominal terms, presently, the volume of problem loans is 1.6 billion manats, which is a rather big figure for the Azerbaijani banking sector," he said.
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(1.7 AZN = 1 USD on Feb. 21)
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