The credit portfolio of the non-bank credit organization TBC Credit expanded in January -September 2013 by $ 3.83 million or 10.5% , to $ 40.32 million. During the reporting period, the company increased its microcredit $ 2 19 million or 26.3 % to $ 10.52 million.
Assets of the company increased $ 4.36 million or 11.4% to $ 42.43 million and the company's customer base expanded by 11.1 percent to 4.03 million people.
The share of problem loans in the total loan portfolio increased 0.24 percentage points to 0.81 %, and this share in the micro-credits grew by 0.26 percentage points up to 0.44%.
The company has credited a total of $ 150.061 million, of which $ 33.466 million was micro credit.
TBC Credit provides loans for a term of one to 10 years. The loan amount varies from 300 to 200 000 manat. The interest rate starts from 18 percent and above. The portfolio is dominated by traditional business loans. -15D -
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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