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Xalg Bank extends loan portfolio by 41% year-on-year

Xalg Bank extends loan portfolio by 41% year-on-year

26 August 2011 10:11 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, 2011, Xalg Bankâ€™s loan portfolio stood at AZN 557.985 mln, up 41% from a year ago.

Bank says during the reporting period, the volume of loans up to 12 months decreased by 3.4 times to AZN 164.988 mln, the volume of loans issued for a period exceeding 12 months, increased 13% to AZN 392.997 mln, consumption loans -69% to AZN 22.070 mln.

The loans given through the Mortgage Fund, increased by 41.5% to AZN 18.692 mln, overdue credits rose 37% to AZN 14.188 mln.

Note that, Xalg Bank has been in operation since 2004. The bank operates 14 branches, 29 ATMs, 51 POS-terminals and 413 employees across the country.

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