Portfolio of Vision Fund Azercredit expanded by 12.7%
From January to April 2013 active credit portfolio of the non-bank credit organization Vision Fund Azercredit expanded by $7.24 million or 12.7% and totaled $64.16 million.
During this period assets of the society increased by $5.79 million or 8.6% and totaled $73.13 million. Total number of the company’s clients increased by 9.4% up to 65,380 people.
The share of problematic credits in the portfolio of the organization decreased by 0.02% to 0,19%. 33.98% of the borrowers were women, down 0.48% against the end of 2012.
Vision Fund Azercredit has been operating since 2003. During this period the company allotted credits to a total amount of $159.88 million. The credits are allotted for the period between 3 and 30 months and the sum varies between $100 and $10,000.—0—
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review