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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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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