Finance

Finance

Bank Respublika evolves strategy on reduction of interest

17 July 2013 10:50 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Within the framework of the program which is executed by the Central Bank of Azerbaijan for studying opportunities for reduction of interest rates, Bank Respublika has started to evolve a strategy to determine necessary actions plan for simplification of reduction of interest rates and crediting procedures (consumer lending, small and medium business loans). Bank says its credit base and demand and opportunities in the market are being analyzed.

One of the main directions of the strategy is to increase maximum sum, reduction of commission fee of the credits and study opportunities on the preferential loan products for different segments of the population.

Khadija Hasanova, chairman of Board of Directors, told APA that bank has already carried out several works to learn the main factors defining the prices in business and consumer lending. These works will have positive impact on credit products.