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Kapital Bank tightens lending policy

11 December 2008 08:58 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Kapital Bank has suspended lending loans to customers to tighten its lending policy, said Rauf Razyev, Chairman of the bank.
He added that the bank would give priority to customers with their families because they have more responsibility. Also, additional collateral will be required for loans for buying a car.
â€œI think it is urgent to tighten lending policy under the current circumstances. Of course, it is not expedient to completely stop lending loans,â€ he added.
As at October 1, Kapital Bankâ€™s assets stood at AZN 422.448 million, loan portfolio at AZN 191.721 million, deposit portfolio at AZN 227.933 million, total capital at AZN 74.158 million and authorized capital at AZN 24 million.
Kapital Bank has been in operation since 2000. The bank operates 90 branches, 267 ATMs and 443 POS terminals at present.
After privatization, Kapital Bank is owned by AtaHolding (30%), Pasha Holding (30%), Khalg Sighorta (15%), Azersun Holding (10%), individuals (10%) and the bank staff (5%).