Banks step up lending activities - Ibrahim Alyshov

15:20 - 22.11.2019


November 22, Fineko/abc.az. The level of risk on business loans is lowering.

ABC.AZ reports that Ibrahim Alyshov, acting chairman of board of the Financial Market Supervision Authority, stated that banking sector assets increased by 6.3% (AZN 1.9 bn) against early 2019 and amounted to AZN 31.4 bn as of 30 September.

He noted that banks have stepped up their lending activity, and for the next period there formed a sufficient liquid resource and capital buffer for further financing. The loans given to customers totaled AZN 13.87 million, including AZN 8.539 million to business entities. Liquid assets amounted to AZN 8.213 million and total assets AZN 31.36 million.

"Softening of the requirements on prudential standards will stimulate the financing of business entities. The risk rates on business loans given to small and medium-sized businesses (from 100 to 50% in national currency) and on business loans directed for financing exports (from 75 to 50% in national currency and from 100 to 75% in foreign currency) have decreased,"  Alyshov emphasized.

 

 

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