The active credit portfolio of the non-bank credit organization Ltd. Finca Azerbaijan increased for seven months of this year by $ 17.22 million or 14.7% to $ 134.42 million. The share of micro credits in the portfolio was 99.4%.
The assets of the company increased by 20.64 million, or 16.2%, reaching on August 1, 2012 $ 148.25 million. The total number of its customers increased over the period by 7.7% to 129,120 persons.
The share of bad loans in the total loan portfolio decreased 0.01 percentage points to 0.18%, and the share of bad loans in the micro-crediting reduced 0.02 percentage points to 0.17%.
For all the time, the company has granted loans totaling $ 210.13 million, including micro-credit totaling $ 208.99 million.
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 $ 50,000. The interest rate on loans varies between 36 and 45.6%. -15B -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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