Active credit portfolio of non-bank credit organizations Ltd. CredAgro within twelve months of the last year was reduced to $ 1,523 million or 4.7% to $ 32.129 million.
Assets of the company for the period increased by $ 147 thousand, or 0.4 percent, to $ 38.48 million and the total number of customers decreased by 12.1% to 18.91 thousand people.
The share of bad loans in the total loan portfolio is 0.98%, and this share in micro-credit is 0.98%.
All-time activities in the financial market, the company issued public loans totaling $ 284.32 million.
CredAgro provides loans for a period of 3 to 60 months. The loan amount varies from $ 500 - $ 120 000. The interest rate on agricultural loans is 24%, trade and business - 25-28%, consumer credit - 30-36%, express loans - 36% and 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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