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Royal Bank increases volume of troubled loans

Royal Bank increases volume of troubled loans

23 January 2012 12:30 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2012, loan portfolio of Royal Bank OJSC made AZN 131.143 mln, up 4.9% compared to last year.

During the reporting period, bankâ€™s short-term loans dropped 32% to AZN 23.054 mln, long-term loans decreased by 51% to AZN 38.209 mln, consumption loans went down 75% to AZN 23.418 mln.

The volume overdue credits rose 55% to AZN 21.602 mln. Share of troubled loans in total loan portfolio made 16.5%, which is 2.5 times higher than average figure on Azerbaijanâ€™s banking system.

The volume of mortgage loans via the AMF soared 75% to AZN 24.860 mln.

Remind that, Royal Bank was established in 1993 as OZ Bank. Currently the bank operates 32 branches, 31 ATMs and 113 POS-terminals across the country.

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