OREANDA-NEWS. February 02, 2010. The Central Bank of Azerbaijan (CBA) informs that by 1st January 2010 commercial banks issued guarantees for AZN 18.5 million versus setting the banks’ portfolio to zero by early 2009.

Following the past year portfolio of banking guarantees ranked the third in the history of domestic banks after portfolio by 1 November 2007 (AZN 18.87 million) and 1st June 2007 (AZN 18.57 million).

By 1st January 2010, guarantees made 0.2% of the banks’ loan portfolio for reported period (AZN 8.407 bn).

As of 1 January 2010, volume of banks’ factoring operations (crediting under hypothecation of goods) made up AZN 19.8 million or 0.2% of their overall credit portfolio versus AZN 520,000 (0.01%) by 1st January 2009.

The best indicator on such operations was registered by 1st December 2007 (AZN 24.44 million).

At the same time by 1st January of the year banks opened letters of credits for AZN 284.5 million (3.4% of overall credit portfolio) versus AZN 46.63 million (0.61% of credit portfolio) by 1st January 2009.

The record volume on this figure was registered as of 1st December 2009 (AZN 300.2 million or 3.7% of loan portfolio).

By 1st January 2010, exchange rate was AZN 0.8031 to the US dollar.