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Azerbaijan discloses amount of loans issued by banks in 1Q2019

16 May 2019 [16:21] - TODAY.AZ

By Trend

The Azerbaijani banks issued the loans worth 1.7 billion manats in January-March 2019, Acting Chairman of the Executive Board of the Financial Market Supervisory Authority of Azerbaijan (FIMSA) Ibrahim Alishov said, Trendreports.

Alishov made the remarks at the Finance and Technology (FINTEX) Summit entitled "New trends in banking and payment ecosystem: innovative solutions, financial technologies and security" in Baku on May 16.

“This is quite a big figure,” he said, stressing an improvement in the situation and a decrease in dollarization in the market.

While speaking about support provided by FIMSA, Alishov said that since the beginning of its activity, FIMSA has made capital injections worth more than 1.8 billion manats, including 120 million manats for the first three months of 2019.

Alishov also stressed that the adequacy of capital of the banking sector exceeds the regulatory indicators and has reached 20.2 percent, which can be considered an indicator of the sustainability of the sector.

According to FIMSA, the loan portfolio of the banks in the country reached 12.7 billion manats as of April 1, 2019 .

FINTEX Summit is being held within the "Week of financial and digital technologies" in Baku. About 100 representatives of international organizations and leading companies from the US, CIS, Europe, Japan, India and other countries are taking part in the event.

(1.7 AZN = 1 USD on May 16)


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