Micro Crediting in TBC Credit Increased by 2.7 Times
The loan portfolio of the non-bank credit organization TBC Credit increased in January-June 2012 by $ 12.38 million, or 64.2%, to $ 31.67 million. During the period, the company increased its micro crediting by $ 3 76 million or 2.7 times to $ 6.02 million.
The assets of the company increased by $ 10.94 million, or 50.7%, to $ 32.68 million and the customer base expanded by 70.8% to 3.11 thousand people.
The share of bad loans in the total loan portfolio decreased 2.44 percentage points to 3.15%, and this share in the micro crediting decreased 1.12 percentage points to 0.60%.
For all the time, the company has credited a total of $ 106.47 million, of which $ 20.31 was micro credit.
TBC Credit provides loans for a period of 1 to 10 years. The loan amount varies from 300 to 200,000 manat. The interest rate starts at 18 percent or higher. The portfolio is dominated by traditional business loans.
The organization has operated from the beginning of 2000. Its shareholders are TBC Bank (75%) and ShoreBank International (25%). - 15B -
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