Unsecured loans make 60% of Bank Standard’s portfolio

Baku. 28 April. REPORT.AZ/ The credit portfolio of under liquidation "Bank Standard" CJSC by the end of March amounted to AZN 747.4 mln.

Report informs, Executive Director of the Azerbaijan Deposit Insurance Fund (ADIF) Azad Javadov told at the first meeting of the Bank's Creditors Committee in Baku.

According to him, these loans were granted to 24 026 individuals and legal entities: “The volume of performing loans of "Bank Standard" is AZN 40.5 mln, of which AZN 33.3 mln is secured loans. Non-performing loans amount to AZN 707 mln, including AZN 271.2 mln of secured loans. TotalshareofunsecuredloansisAZN442.9 mln”.

A. Javadov added that in accordance with the conclusions of audit companies, liquid funds from loans are expected to amount to AZN 112.3 mln. The cost of the bank's property is approximately AZN 46 mln, of which AZN 31 mln are pledged to the Central Bank.

He also stressed that the liquidated banks hold approximately AZN 3.2 bln of 150 000 depositors, of which AZN 1.2 bln is in the "Bank Standard".

Notably, Azerbaijan Deposit Insurance Fund (ADIF) has today held the first meeting of "Bank Standard" Creditors Committee.