Active loan portfolio of non-bank credit organizations, LLC "Finca Azerbaijan" increased during the four months of this year to $ 13.78 million, or 8.6% to $ 165.74 million. In the structure of the portfolio, microcredit totaled 99.5%.
Assets of the company increased by $ 12.06 million, or 7.2%, reaching on May 1, 2013, the level of $ 178.93 million. Total number of customers of the company increased during the reporting period by 3.7% to 141.86 thousand persons.
The share of problem loans in the total loan portfolio, compared with the beginning of the year has decreased by 0.05 percentage points to 0.14%, and micro-credit - by 0.02 percentage points to 0.13%.
Total activity the company has issued loans totaling $ 709.69 million, including micro-credit - for $ 707.178 million.
"Finca Azerbaijan" was established in 1998. It is part of an international network of microfinance company "Finca International". The company provides loans for a period from three to 36 months. The loan amount varies from $ 50 - $ 50,000. The interest rate on the loans varies in the range of 36-45,6%. --15B--
Economics
-
According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
-
Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
-
Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
-
Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
Leave a review