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Overdue loans more than double in Azerbaijan

Overdue loans more than double in Azerbaijan

10 November 2009 15:13 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of Octobert 1, overdue loans amounted to AZN 309.4 million in Azerbaijan, up 2.2 times from the same period last year, said the Central Bank of Azerbaijan.

The share of overdue loans reached 4% of total loan book, compared to 2.1% a year ago.

However, the portion of overdue loan has significantly 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.

In the face of the global financial crisis, the share of overdue loans reached 10-20% in some countries.

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