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
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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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