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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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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