The loan portfolio of the non-bank credit organization CJSC Aqrarkredit fell in January-October this year by $ 393,000 or 1.9% to $ 20.76 million. During the reported period micro crediting increased by $ 1.52 million or 9.5% to $ 17.54 million.
Assets of the company increased by $ 1.11 million or 3.4%, to $ 34.05 million. The company's customer base increased 12.5% ??to 3,780 persons.
For all the time the organization has issued loans worth 90.4 million manat, including 69.86 million manat of micro credits.
The share of bad loans in the total loan portfolio is 0.49%, and the share of these loans in the micro crediting is 0.47%.
The authorized capital is AZN 18,535,424. The sole shareholder is the State Property Committee. The organization provides individual, group and business loans ranging from 3 to 7 years. The amount of credits varies between $ 100 and $ 100,000. -15B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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