NBCO capitalization increased in 2012 by more than a third
Total assets of non-bank credit organizations (NBCOs) on January 1, 2013 reached the level of AZN 401.49 mln. For the year the figure rose to 85.95 million or 27.2%. The share of the organizations funded by international humanitarian organizations accounted for 82% of the total value or 329.28 million manat.
According to the Central Bank, for year-end 2012 the share capital of 133 non-bank credit institutions reached 61.06 million manat, increasing during the year by 34.3%.
The number of branches of NBCOs operating in the country since the beginning of the year increased 28 to 114. Most of all branches (31) are located in the Aran economic region.
Compared with the end of 2011, the number of NBCOs financed by international humanitarian organizations has increased by 1 to 28. They accounted for 90 percent of existing branches.
During the reported period, 13 new licenses were acquired for credit unions, while 6 organizations lost permissions, with the total number coming to 104 units. - 15B -
Economics
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