The active loan portfolio of non-bank credit organization LLC Finca Azerbaijan increased during the 7 months of this year by $ 28.19 million or 18.5 % to $ 180.76 million. In the portfolio the fraction of microcredit was 99.5%.
Assets of the company increased by $ 43.17 million , or 25.8 %, reaching on August 1, 2013 level of $ 210.036 million Total number of customers increased during the reporting period by 6.4 % to 145.76 thousand persons .
The share of problem loans in the total loan portfolio , compared with the beginning of the year has decreased by 0.02 percentage points to 0.17 %, and micro-credit on the contrary increased by 0.02 percentage points to 0.17 %.
Total the company has issued loans totaling $ 788.867 million , including micro-credit - for $ 785.572 million
Finca Azerbaijan was established in 1998 . It is part of an international network of microfinance Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 - $ 100 000. The interest rate on the loans varies in the range of 21-36 %. - 15B -
Economics
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Azerbaijan's foreign direct investment (FDI) portfolio for the first half of the year continued to be dominated by the oil and gas sector, which attracted 80.4% of the total FDI inflow of $3 billion, according to the Central Bank of Azerbaijan. This reflects a persistent trend of reliance on energy resources, as the country plays a critical role as a key energy producer in the region.
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A Baku seminar titled "Green Building Initiative in Azerbaijan," held on September 12, spotlighted the country’s increasing focus on sustainable construction. Organized by the State Committee for Urban Planning and Architecture, in collaboration with the International Finance Corporation (IFC), the event brought together key stakeholders from both the public and private sectors, reflecting a growing national commitment to environmentally conscious building practices.
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The Central Bank of Azerbaijan (CBA) today held a briefing on the financial results for the first half of 2024, shedding light on the country’s economic health and key indicators influencing its external balance. Samir Nasirov, Director of the CBA Statistics Department, outlined the current account surplus, foreign investments, and other critical metrics during the event.
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On September 11, 2024, Azerbaijan's Economic Council, chaired by Prime Minister Ali Asadov, convened to review the draft state and consolidated budgets for 2025-2028. The meeting, dedicated to key financial and economic issues, addressed global economic trends, macroeconomic forecasts for 2024-2028, and the country’s budget policy for the coming years.
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