Overdue loans account for 2% of loans in Azerbaijan’s banking system

Overdue loans account for 2% of loans in Azerbaijan’s banking system
# 10 December 2008 14:47 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As at Nov. 1, overdue loans account for 2.1% or AZN 142.6 million of the total loans of AZN 6 697.5 million in Azerbaijan’s banking system, said the National Bank of Azerbaijan.
The central bank said the share of overdue loans in the total loan portfolio declined 0.4% while the value of overdue loans increased by 42.2%, compared to a year ago.
The portion of overdue loan continued to decline 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.
This is the successful result of the banks’ tight lending policy.
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