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VF AzerCredit offers discounts for customers with USD loans

VF AzerCredit offers discounts for customers with USD loans

The Management Board of the Central Bank of Azerbaijan set the rate of USD at 1.05 AZN as of 21 February 2015 by its decision of the same date, which resulted in 34% devaluation of Azerbaijan manat.

It is indicated in the statement of the Central Bank that this decision was taken in an attempt to launch additional stimuli to diversify the national economy, further boost its international competitiveness and export potential, and this correction the  exchange rate of manat will also allow to neutralize the negative impact of the recent considerable depreciation of our major trade partners’ national currencies on the competitive advantage of the national economy

However, this level of devaluation was unpredictable for the banking sector and has also caused repayment difficulties for customers with USD loans.

Considering the current difficulties and appeals by customers, VF AzerCredit offers its customers prolongation of loan terms and discounts on interest rates, accumulated penalties, as well as commission fees throughout April. The customers willing to benefit from the discounts should approach the service offices, and after having obtained detailed information, file a written application to benefit from any of the offered privileges. The credit committees will handle the application in the shortest possible period of time.

VF AzerCredit strongly believes that the offered solutions will lessen current credit burden and   will enable customers to overcome the hardships soon and prevent their businesses from possible detriments.

*Prepared based on information

March 2015

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10Q Alasgar Gayibov Street,
Baku AZ1029

Phone: (+994 12) 447 38 17
(+994 12) 448 38 17