The active loan portfolio of the non-bank credit organization LLC CredAgro within 9 months of the year increased by $ 2.71 million or 8.4 percent to $ 34.84 million. In the portfolio the share of micro credits was 95.4 %.
Assets of the company increased over the period by $ 3.41 million or 8.8 % to $ 41.89 million and the total number of customers decreased by 5.1 % to 17.95 million persons.
The share of problem loans in the total loan portfolio, compared with the beginning of the year, decreased by 0.54 percentage points to 0.44 %, and the share in the micro credits reduced by 0.04 percentage points to 0.52 %.
The company has issued loans totaling $ 311.82 million , including micro-credit - for $ 311.69 million.
CredAgro provides loans for a period of 3 to 60 months. The loan amount varies from $ 500 to $ 120,000. The interest rate on agricultural loans is 24 %, trade and business - 25-28 %, consumer credits - 30-36 % , express loans - 36 % and leasing - 25 % per annum. - 15B -
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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