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Banksâ€™ bad assets more than halve in Azerbaijan

Banksâ€™ bad assets more than halve in Azerbaijan

02 October 2008 15:28 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Bad assets account for 0.9% of the total assets owned by banks in Azerbaijan, compared to 2.1% in the first half of 2007, said the National Bank of Azerbaijan.
The real amount of bad assets fell 22% and relative amount dropped by 1.2 percentage points or 2.3 times over the past year.
Besides, the amount of troubled and unsuccessful assets went down too.
In general, the 5-6% barrier for the troubled, unsuccessful and bad assets is considered to be normal.
Howver, Azeri banks prefer risk-free assets transactions which became the reason why the amount of bank assets is low in the country.
The total bank assets-GDP ratio is 38% in Azerbaijan while this ratio is 80-85% in Kazakhstan and 45-50% in Russia, but bank assets are usually one and a half or twice as much as GDP in developed countries.

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