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Overdue loans grow in Azerbaijan

Overdue loans grow in Azerbaijan

29 July 2009 14:45 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of July 1, overdue loans amounted to AZN 242.8 million in Azerbaijan, up 2.5 times the same period last year, said the Central Bank of Azerbaijan.

The share of overdue loans reached 3.8% of total loan book, compared to 1.6% 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 up to 5% is still considered as a permissible level.

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