OREANDA-NEWS. April 22, 2011. The Halkbank State Commercial Bank of Turkmenistan, an active player in the national credit money market, fulfils a wide range of the social and economic tasks in the framework of the state strategy for the integration of Turkmenistan in global economy.

The bank creates conditions to meet increasing demand for financial instruments. Positive dynamics of microeconomic and macroeconomic indicators in the country and growing market competition contribute to enhancing the business activity and increasing the standards of living. Given the current trends, the fifth part of the proposal package of Halkbank Bank, which includes over 160 kinds of services, is a wide range of credit operations for natural entities and corporate clients.

The loan portfolio of Halkbank is formed from consumer loans, loans for car purchase, microloans for business startups and second mortgage. The bank issues large entrepreneurial credits and loans to corporate clients in the state and private sector to promote trade and production and the services sector.

It should be noted that the credit terms require the multifaceted process of evaluation of solvency and creditworthiness of potential loan recipients. The loan procedure has the legal and economic aspects and requires observance of the criteria of urgency, paying capacity, repayment and collateral security for loans.

The interviews with clients helps the Bank to identify the clients’ business reputation, sources of principal payment and repayment of interest on loan, consider the need for additional guarantees, bail and pledge and evaluate mortgaged property. Relationships between creditor and loan recipient are set forth in a credit agreement.

Every day the specialists of credit services of Halkbank conduct monitoring of the loans issued to customers. These loans have a significant impact on the saving functions of the Bank: because savings of natural entities and corporate clients form the loan base for. Thus, the thought-out strategy for loan portfolio management is of particular importance.

Being aware of a critical role of timely and properly provision of credit products in developing the national economy, the Halkbank State Commercial Bank of Turkmenistan seeks to provide loans to clients of various forms of ownership and fields of activity. An important aspect of the crediting activity of the Bank is to meet the financing needs of import-substituting and export-oriented industries.

The Halkbank State Commercial Bank of Turkmenistan is planning to introduce new types of bank credits in the near future. The range of services rendered by the Bank will be broadened with factoring operations and financial leasing, overdrafts and express credits provided to customers, who have irreproachable long-term relationships with the Halkbank State Commercial Bank.