Michael Hoffmann: Devaluation created difficulties for customers with US dollar loans

Baku. 11 June. REPORT.AZ/ Pace of development of Accessbank JSC decreased this year compared to last year.

Report informs, it was stated by General Manager of Accessbank Michael Hoffmann: "The devaluation has affected not only banks, but also the business sector as a whole. We are glad that our work is stable and developing. Although growth rates have decreased in comparison with last year, however, it continues."

"The devaluation has created difficulties for customers, in particular, with dollar loans. Therefore, we, at the request of customers, changed the structure of the payment of loans and streamlined the process", said the general manager.

According to M.Hoffmann, bank loan rates vary depending on the degree of risk.

Accessbank assets in the annual comparison increased by 38.2% and as of April 1 amounted to 1.2 million manats.

During this period, the loan portfolio grew by 39.3% - up to 925.3 million manats, deposit portfolio - by 24.7% to 297.8 million manats. On April 1, the authorized capital of the bank amounted to 85.0 mln manats, total capital - 156.1 million manats.