The active loan portfolio of non-bank credit organization LLC Finca Azerbaijan increased during the 10 months of this year by $ 43 million or 28.2 % to $ 195.57 million. In the portfolio the share of micro credit was 98.7 %.
Assets of the company increased by $ 48.9 million , or 29.3 %, reaching on November 1, 2013 level of $ 215.79 million. Total number of customers increased during the reporting period by 8.8% to 148.94 thousand persons.
The share of problem loans in the total loan portfolio compared to the beginning of the year increased by 0.05 percentage points to 0.24 %, and the share in micro credits - by 0.09 percentage points to 0.24 %.
For all-time company issued loans totaling $ 818.737 million , including micro-credit - to $ 787.995 million
Finca Azerbaijan has been operating since 1998. It is part of an international network of microfinance Finca International. The company carries out lending for a period of 4 to 24 months. Loan amount varies from $ 50 to $ 100 000. The interest rate on loans varies in the range 21-36 %. - 15B -
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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