MP: Dividends on deposits in manats have also decreased


June 23, Fineko/abc.az. MP Vugar Bayramov has published a post on the social network in connection with the growth of problem loans.

ABC.AZ reports the MP noted that although the consequences of the pandemic play a special role in increasing the volume of problem loans, the expensive credit policy of banks, including the implementation of financing without checking the solvency in some cases, has not been left without consequences:

"At that, there was a big difference between dividends on deposits and loan interest. Some banks already either do not pay interests on dividends in foreign currency, or charge insignificant dividends. The dividends on deposits in manats also decreased. Despite the drop in deposit dividends, there is no noticeable decrease in interest rates on loans. High interest rates on loans affect the volume of problem loans, and as a result, in the last months of 2021, there was an increase in the volume of non-performing loans. In this regard, the Central Bank needs to implement more systematic measures to optimize interest rates and increase the availability of loans."