Overdue credits in Kyrgyzstan up 11.7 pct

BISHKEK, Oct. 2 (Xinhua) — Overdue credits in Kyrgyz banks jumped 11.7 percent to 85.5 million U.S. dollars by the end of August this year, the National Bank of Kyrgyzstan said Wednesday.
According to data from the bank, the volume of overdue credits accounted for 2.4 percent of the credit portfolio of the whole banking system, while the share of classified credits in the loan portfolio of the system amounted to 422.8 million dollars, or 12.1 percent.
The volume of financing under Islamic principles rose 11.2 percent to 79.5 million dollars, as overdue financing issued according to Islamic principles stood at 4.7 million dollars, accounting for 1.7 percent of the total volume of financing, up 2.3 million dollars or 63.6 percent since the beginning of the year.
The banking system has yielded a net profit of about 253 million dollars this year, thus the total assets of the banking sector have surged by 20.1 percent to 8.7 billion dollars.
As of Aug. 31, a total of 21 commercial banks and 305 branches of commercial banks were operating in Kyrgyzstan, while five commercial banks were providing services in accordance with Islamic principles of banking and finance. ■