Loan portfolio non-bank credit organization CJSC "Aqrarkredit" fell in January-November of this year at $ 381 million or 1.8% to $ 20.77 million in the reporting period, microcredit has increased by $ 1.58 million or 9.9%, to $ 17.6 million.
Assets of the company increased by $ 1.11 million, or 3.4%, to $ 34.05 million. The number of the company's customers has grown by 13% to 3,790 persons.
For all the time of the organization has issued loans worth 91.61 million manat, including 69.86 million manat of micro credit.
The share of bad loans in the total loan portfolio is 0.47%, and this share in the micro-crediting is 0.42%.
The authorized capital amounts to 18,535,424 manats. 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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