Problem loans in Azerbaijan continue to grow
The Central Bank of Azerbaijan has published a statistical bulletin on the results of the first quarter of 2024.
According to the document, as of the end of March, overdue loans in Azerbaijan amounted to 470.8 million manats, which is up by 0.35% from the end of February.
Add that the amount of problem loans in the country rose by 7.5% as compared to the end of the last year, and declined by 20.3% over the past year.
A share of loans overdue as of April 1 in the total loan portfolio amounted to 1.9%. This rate was also 1.9% on March 1; 1.8% on January 1 and 2.9% on April 1 last year.
Finance
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The loan agreement with Bank Respublika will offer attractive terms and conditions, making it easier for small businesses to access finance. EIB Global, the arm of the European Investment Bank (EIB) for financing activities outside the European Union, has signed a €10 million loan agreement with Bank Respublika to support micro small and medium-sized enterprises (MSMEs) in Azerbaijan. This agreement will promote financial inclusion by providing loans to small businesses at competitive terms and with the option to be disbursed in local currency, to boost investments, growth and employment.
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Chairman of the Central Bank of Azerbaijan Taleh Kazimov met with the heads of banks-members of to the Board of the Association of Banks of Azerbaijan.
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The Azerbaijan Deposit Insurance Fund (ADIF) has announced the public auction of real estate of "NBC Bank", which is in the process of liquidation.
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"Legion Financial" joint stock company (provides leasing services) announced the issue of shares worth 1.3 million manats and bonds worth 1 million manats.
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