The active loan portfolio of the non-bank credit organization LLC Nakhchivan Credit in January-September this year decreased by $ 6.02 million or 48 % to $ 6.48 million.
Assets of the company during the reported period decreased $ 5.91 million or 48.2 % to $ 6.09 million and the total amount of customers decreased 39.5% to 6,085 persons.
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).
For all the time of its activities in the financial market, Ltd. Nakhchchivan Credit issued loans totaling $ 44.194 million.
The company operates on the territory of the Nakhchivan AR. Loans are granted for a period of 9 to 18 months, with the amount in the range of $ 500 - $ 5,000. The rate on loans is up to 30 % per annum. - 15B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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