Term for restructuring of bank loans should be increased - Proposal


December 19, Fineko/abc.az. There is a need to increase the term given for restructuring of bank loans in Azerbaijan.

ABC.AZ reports that the statement was made today by Bank VTB (Azerbaijan) chairman of board Yevgeny Kirin at a press conference dedicated to Bank's activity for Jan-Oct 2019.

He noted that as some debtors have not yet applied to banks on the occasion of restructuring of their loans, it was hardly possible to restructure the problem debts that are still available: "So far Bank VTB has been able to restructure 56% of such loans, and in terms of the amount - 52%. Activity of debtors in this matter is low, other banks also have similar conditions. It may be necessary to extend the given time so that debtors can restructure these loans."

The terms related to the restructuring of problem debts are stipulated by the decree of President Ilham Aliyev from 28 February 2019 and should be completed by the end of this year.

By Elmir Murad