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Overdue loans grow in Azerbaijan

Overdue loans grow in Azerbaijan

06 March 2009 16:12 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of February 1, overdue loans amounted to AZN 176.5 million in Azerbaijan, said the National Bank of Azerbaijan.
The figure represents a 77.2% or AZN 76.9 million increase on the same period last year and a 10.5% or AZN 16.7 million rise on early this year.
The share of overdue loans increased 0.4 percentage points from last year and 0.3 percentage points from early this year to 2.5%.
However, the portion of overdue loan declined 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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