BAKU/26.12.13/TURAN : The active loan portfolio of non-bank credit organization LLC Nakhcivan Credit in January-October of this year decreased by $ 7.07 million or 56.6 % to $ 5.42 million.
Assets of the company during the reporting period decreased by $ 6.99 million or 58.2 % to $ 5.02 million and the total amount of the customers decreased by 52.5% to 4.07 thousand people .
The share of problem loans in the portfolio compared with the beginning of the year remained unchanged and amounted to 0.03%. 49% of the borrowers were women ( 1 % relative to the beginning of the year) .
During all-time activities in the financial market, Ltd. Nakhcivan Credit issued loans totaling $ 44.194 million.
The company operates on the territory of Nakhchivan AR . Loans are granted for a period of 9 to 18 months , with the amount in the range of $ 500 - $ 5000 . The rate on loans is up to 30 % per annum. - 15B -
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review