The active loan portfolio of non-bank credit organization, LLC Finca Azerbaijan increased during the first 9 months of this year by $ 37.92 million or 25 % to $ 190.49 million. In the portfolio the share of microcredits was 99.3%.
Assets of the company increased by $ 46.2 million, or 27.7 %, reaching on October 1, 2013 level of $ 213.06 million. Total number of customers increased during the reporting period by 7.7 % to 147.53 thousand persons.
The share of problem loans in the total loan portfolio compared with the beginning of the year increased by 0.01 percentage points to 0.20 %, and the share of these loans in the micro-credits - by 0.05 percentage points up to 0.20 %.
Totally the company has issued loans totaling $ 818.94 mln, including micro-credits totaling $ 787.99 mln.
Finca Azerbaijan was established in 1998. It is part of the international network of microfinance Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 to $ 100 000. The interest rate on the loans varies in the range of 21-36 %. -15B-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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