Elman Rustamov: “Overdue credits do not cause problems due to reserve funds established in the banks”

Baku: “Information released about increase of share of troubled loans is not true”, said the Chairman of the Central Bank of Azerbaijan Elman Rustamov.

According to him, share of troubled loans in total portfolio is below 6%: “Banks have reserves on 80% of these loans. This is lower compared to other countries. Of course the structure of portfolio changes. So, troubled loans on consumption loans are higher. However, they do not cause problem due to reserve funds”.

SOURCE: AZERI PRESS NEWS AGENCY

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