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Over AZN 6 billion liquid funds emerged in banking sector - ABA

Increase of interest income will not lead to difficulties for banks, president of Azerbaijan Banks Association (ABA) Zakir Nuriyev said.

According to him, banks’ loan portfolio tended to decline after two devaluations: “Meanwhile, as a result of the decisions made by the government after devaluations, cashless settlements increased. If we take into account the liquid funds of AZN 5.2 billion and funds placed in securities of nearly AZN 1 billion, more than AZN 6 billion liquid funds, for long- and short-term period, have emerged in the banking sector. At the same time, interest rates of the funds involved by banks sharply declined. Interest rates on manat funds tend to decline. Interest rates of loans offered to legal entities in manat and foreign currency decreased. Decline in interest incomes was compensated by reduction in interest expenses. I think the credit activity of the banks will rise in late 2017 and 2018”. 

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