Parabank launches car loan project in provinces

Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s Parabank and KIA-Motors Azerbaijan have reached an agreement on a project to offer cars on credit in Gandja.
The bank said its branch in Gandja will lend car loans for 1-3 years at the interest rate of 28-32% per annum depending on the term of a loan.
According to the agreement, one-year loans will finance 80% of the car price, two-year loans 75% and three-year loans 70%.
As of October 1, Parabank’s assets at AZN 62.1 million, deposit portfolio at AZN 33.3 million, loan portfolio at AZN 39.2 million, total capital at AZN 11.7 million and authorized capital at AZN 9.394 million.
Owned by 23 individuals, Parabank has been in operation since 1991.
The bank said its branch in Gandja will lend car loans for 1-3 years at the interest rate of 28-32% per annum depending on the term of a loan.
According to the agreement, one-year loans will finance 80% of the car price, two-year loans 75% and three-year loans 70%.
As of October 1, Parabank’s assets at AZN 62.1 million, deposit portfolio at AZN 33.3 million, loan portfolio at AZN 39.2 million, total capital at AZN 11.7 million and authorized capital at AZN 9.394 million.
Owned by 23 individuals, Parabank has been in operation since 1991.
Finance

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