From January to July 2012, the active credit portfolio of the non-bank credit organization Ltd. CredAgro decreased by $ 472,000 or 1.4% to $ 33.65 million.
Assets of the company increased during the first seven months of this year by $ 402,000 or 1%, to $ 38.74 million. The total number of customers decreased 4.4% to 20.53 thousand people.
The share of bad loans in the total loan portfolio decreased by 1.29 percentage points to 7.20%, and the share of bad loans in the micro-credit portfolio diminished by 0.62 percentage points to 7.20%.
Throughout the history of CredAgro activities in the financial market, the company has issued public loans totaling $ 268.75 million.
CredAgro provides loans for periods ranging from three to 60 months. Loan amount varies from $ 500 to $ 120,000. The interest rate on agricultural loans is 24%, on trade and business loans - 25-28%, on consumer credit - 30-36%, on express loans - 36%, and on leasing - 25% per annum. - 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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