The active credit portfolio of the non-bank credit organization Ltd. Finca Azerbaijan increased in the first half of this year by $ 19.18 million or 16.4% to $ 136.39 million. The share of micro credits in the portfolio was 99.4%.
The assets of the company increased $26.48 million or 20.8% to $ 154.09 million. The total number of the customers increased over the period by 7.5% to 128.86 thousand persons.
The share of bad loans in the total loan portfolio decreased 0.03 percentage points to 0.16%, and this share in the micro credits decreased 0.02 percentage points to 0.17%.
For all the time, the company has granted loans totaling $ 206.33 million, including $ 205.22 million for micro crediting.
Finca Azerbaijan was established in 1998. It is part of 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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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