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FIMSA: Activity of Azerbaijan Credit Bureau will increase volume of loan portfolio


Activity of Azerbaijan Credit Bureau will increase the volume of loan portfolio, Deputy Chief Executive Officer of the Financial Markets Supervisory Authority (FIMSA) Asim Zulfugarov said on February 9. 

 

According to him, decline observed in the loan portfolio in the banking sector earlier has been recovered by IBAR’s normalization, transfer of bad assets and restructuring of foreign liabilities: ‘Without taking IBA into account, AZN 7-8 million decline was observed in the loan portfolio. Our next challenge is related to increase of the loan portfolio. This step should be formed on the basis of heath and responsible borrowing principle’. 

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