Loan portfolio of non-bank credit organization TBC Credit increased in January-December 2012 by $ 17.2 million, or 89.1%, to $ 36.49 million
During the reported period, the company increased its micro credit by $ 6.07 million or 3.7 times to $ 8.33 million.
Assets of the company increased by $ 16.33 million, or 75.6%, to $ 38.07 million and the customer base expanded by 100% to 3,627 persons.
The share of bad loans in the total loan portfolio amounted to 0.57%, and their share in micro-credits was 0.18%.
For all the time, the company credited a total of $ 125.67 million, of which $ 25,970,000 was micro credit.
TBC Credit provides loans for a period of one to 10 years. The loan amount varies from 300 to 200 000 manats. The interest rate starts at 18 percent and above. The portfolio is dominated by traditional business loans.
The organization has operated from the beginning of 2000. Its shareholders are TBC Bank (75%) and ShoreBank International (25%). - 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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