The credit portfolio of the non-bank credit organization CJSC Agrarkredit fell in January-April this year by $ 26,000 or 0.2% to $ 20.67 million. During the reporting period the micro crediting increased by $ 590 thousand, or 3.3% to $ 18,351 million.
The corporate assets decreased 0.5% to $ 33.8 million, while the company's customer base decreased by 2.4% to 9,990 persons.
Totally the organization issued loans totaling $ 89.9 mln, including AZN 78.1 million of micro loans.
The share of problem loans in the total loan portfolio increased 0.06 percentage points to 0.54%, and the share of those loans in the micro-credit portfolio increased 0.03% to 0.45%.
At present, the authorized capital of the company amounts to 18,535,424 manats. The only shareholder is the State Property Committee. The organization provides individual, group and business loans for a period of 3 to 7 years. The loan amount varies between $ 100 and $ 100 000. - 15B -
Economics
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Azerbaijan’s SOCAR Polymer has reported a substantial rise in propylene exports, marking a 65% increase in September 2024 compared to previous months. This surge comes amid a general slowdown in polypropylene exports, which declined by 17.8% over the January to September 2024 period.
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Azerbaijan’s Parliament has amended the country's tourism law to restrict certain industrial activities within tourism and recreation zones, reinforcing environmental protections aimed at sustaining the appeal of these areas to tourists and safeguarding local ecosystems. The new amendment, endorsed by President Ilham Aliyev, introduces Article 19.5 to the “Tourism Law,” specifying prohibitions on industrial operations deemed harmful to tourism areas.
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The Baku-Tbilisi-Kars (BTK) railway, launched on October 30, 2017, celebrates its seventh anniversary, showcasing robust growth in freight transportation. According to Azerbaijan Railways (ADY), BTK, a vital link within the Middle Corridor, increased its annual freight capacity from 1 million tons at its inception to 5 million tons following modernization work completed in May this year.
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, announced on social media platform X that a high-level session of the Baku Initiative on Climate Finance, Investment, and Trade (BICFIT) is scheduled for November 14 during COP29.
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