Elman Rustamov makes statement on closed banks

Elman Rustamov makes statement on closed banks

13 May, 13:00 Share on social media:

"Positive tendencies are observed in the financial sector. In the first 4 months, the loan portfolio has increased by 1,9%. The main source of this is business loans," said chairman of Azerbaijan Central Bank Elman Rustamov at today's briefing.

According to him, business credits have grown by 4.1% and mortgage credits by 5.2%, production credits have decreased by 4.1%.

"New credits worth 4.1 bln AZN have been given by banks. The banking sector takes active part in the financing of the real sector. There is liquid finance worth over 8 bln AZN. No problems are observed in the execution of obligations by banks. Banks fulfill obligations in time. The payment system is stable." 

Besides, E.Rustamov also spoke about the banks which licenses have been abolished. "677 mln AZN were required for keeping on the market the 4 banks which licenses have been abolished in Azerbaijan," said the chairperson of the Central Bank. He said that discussions had been held with those banks from the start of the year. 

"Discussions have been held with them since January. Mainly, we have talked to "AGBank". The audit inspection has revealed the negativity of the capital."