Rufat Aslanli: Banks have problems with foreign currency commitments

Baku. 21 October. REPORT.AZ/ Azerbaijani commercial banks have problems with implementation of foreign currency commitments. Report informs, Chairman of Board of Directors of the Financial Markets Control Rufat Aslanli said.

"Before the devaluation foreign currency loans accounted for 47% of bank credits. After two devaluations, volume of these loans has doubled in manat terms. Therefore, there problems with their repayment", R. Aslanli added.

According to him, the banks have realized the credit not at the expense of their own resources: "Credit investments made 16 billion AZN. They attracted from the population at the expense of deposits for businesses. 80% of deposits were placed in foreign currency. If the banks can not get their money back, they will face with fate of Bank Standard. There should be a systemic problem solution. We have prevented expansion of the problem by limiting US-dollar lending. The yield on deposits in foreign currency decreased by 1%. The issue is at the center of our attention."