The active credit portfolio of non-bank credit organization Ltd. Finca Azerbaijan increased during the 11 months of this year by $ 28 million or 24% to $ 145.17 million. In the portfolio the share of micro credits was 99.4%.
Assets of the company increased $ 28.8 million, or 22.5%, reaching by 1 December 2012 the level of $ 156.44 million. The total number of customers increased during the reported period by 12.4% to 134,760 persons.
The share of bad loans in the total loan portfolio, compared with the beginning of the year increased 0.03 percentage points to 0.22%, and their share in the micro-crediting decreased 0.01 percentage points to 0.18%.
For all the time, the company has granted loans totaling $ 229.27 million, including micro-credits of $ 227.91 million.
Finca Azerbaijan was established in 1998. It is part of the international network of microfinance Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 to $ 50,000. The interest rate on loans varies between 36% and 45.6%. -15B-
Economics
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
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Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
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