The loan portfolio of the non-bank credit organization TBC Credit increased in January-November 2012 by $ 16.35 million or 84.7% to $ 35.64 million.
During the reported period, the company increased its micro-credit by $ 5.85 million or 3.6 times to $ 8.11 million
The assets of the company increased $ 15.4 million or 70.9% to $ 37.14 million and the customer base expanded by 97.8% to 3,553 persons.
The share of bad loans in the total loan portfolio amounted to 0.69% and this share in the micro-credit made 0.21%.
For all the time, the company has credited a total of $ 122.26 million, of which $ 25.1 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 or higher. 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
-
The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
-
The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
-
The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
-
Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
Leave a review