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Lending will narrow 5% in Azerbaijan

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Package of support to International Bank of Azerbaijan (IBA) may include reduction of short-term foreign currency balance of the bank. They may convert liabilities to the state into national currency. At present IBA holds 10% of overall banking sector.

Axar.az reports citing Report news agency that, Fitch rating agency presented a report on Azerbaijani banking sector.

Fitch expects lending in Azerbaijan to narrow by 5% this year: “Unhealthy debts in Azerbaijan banking sector made up 21% by the end of last year. However, this indicator was 12% in 2015. 48% of overall loans is in foreign currency, that will make a pressure in 2017. We expect lending to narrow by 5%”.

Date
2017.03.16 / 19:14
Author
Axar.az
Comments
Memorial Zefer
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