Unibank increases consumer lending by 20% year-on-year

Unibank increases consumer lending by 20% year-on-year
# 20 September 2011 14:38 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of September 1, 2011, Azerbaijan’s Unibank increased consumer lending by 20% to AZN 168.3 mln. Number of bank’s consumer loans exceeded 25,000.

The dynamics of crediting by cash money draws attention specially. Thus, the volume of such credits soared 38 times year-on-year. Every day, as a result of the population’s active need, $1 mln funds are allocated for individuals by the bank.

Note that, within framework of the standard offer, maximum cost of credit makes AZN 4 thousand. Cash credits are given by the bank for 12 months. Effective interest rate on cash credits starts from 15.5% per year. No guarantor is demanded from the customers in Baku and Sumgayit, if the amount of the credit is below AZN 1,500. in other regions, the customers may obtain cash credit without guarantor at amount of AZN 1,000.

Remind that, as of September 1, 2011, the assets of the bank stood at AZN 390 mln, total capital made AZN 66.5 mln.
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