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Overdue loans as a share of total loan book is 2.1% in Azerbaijan

Overdue loans as a share of total loan book is 2.1% in Azerbaijan

08 January 2009 15:45 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As at Dec. 1, overdue loans account for 2.1% or AZN 145.3 million of the total loan book of AZN 6 855.5 million in Azerbaijanâ€™s banking system, said the National Bank of Azerbaijan.
The central bank said the share of overdue loans in the total loan portfolio declined 0.2% while the value of overdue loans increased by 48%, 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.
According to the world practice, the level of 4-5% is considered as a permissible level.

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