Number of appeals to Azerbaijan Credit Bureau up

The number of applications from banks and non-bank credit organizations (NBCOs) to the Azerbaijan Credit Bureau (ACB) increased by 37 percent at the end of the first half of 2019 (compared to the same period), Trend reports referring to the ACB.

According to the bureau, the number of calls increased to 1,301,606 in the first 6 months. For comparison, 952,987 requests were received in January-June 2018. Some 30 banks and 40 NBCOs used the bureau system during the first 6 months of the current year.

Banks accounted for 89 percent (1,162,865) of all requests, while NBCOs accounted for 11 percent (138,741).

During this period, 13,827 individuals and legal entities were interested in their credit history. The overwhelming majority of them (99.5 percent) are natural persons.

As noted, 6 organizations connected to the ACB’s system, including 1 NBCO, 2 credit unions, 2 leasing companies and 1 legal entity, during the first half of the year. As such, the number of organizations collaborating with the bureau has reached 126.

The ACB began functioning in February last year.

Unlike the Centralized Credit Registry (CCR), the bureau contains more information and covers a larger number of borrowers. At present, the process of connecting new organizations to the bureau system continues. It is expected that in the future, the ACB will receive information not only from financial institutions, but also utilities, mobile operators, etc.