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Overdue loans grow in Azerbaijan

Overdue loans grow in Azerbaijan

02 June 2009 17:02 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of May 1, overdue loans amounted to AZN 200.8 million in Azerbaijan, said the Central Bank of Azerbaijan.
The figure represents a 85.8% or AZN 92.7 million increase on the same period last year and a 25.7% or AZN 41 million rise on early this year.

The share of overdue loans reached 3.2% of lending portfelio, compared to 2.1% a year ago and 2.2% early this year.

However, the portion of overdue loan declined over the recent years given that the share was 27.6% in 2001, 11% in 2004, 3.3% in 2006 and 2.1% in 2008.

According to the world practice, the level of 4-5% is considered as a permissible level.

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