The credit portfolio of non-bank credit organization TBC Credit increased in January -July 2013 by $ 2.81 million, or 7.7 %, to $ 39.294 million.
During the reported period the company increased its microcredit by $ 1.462 million or 17.6 % to $ 9.791 million.
Assets of the company increased $ 2,113 million or 5.6 % to $ 40.184 million. The company's client base expanded to 3,911 persons.
The share of problem loans in the total loan portfolio increased 0.28 percentage points to 0.85%, and the share of these loans in the micro-credit increased 0.24 percentage points up to 0.42%.
Total activity of the company credited a total of $ 142.859 million, of which $ 31.096 million was microcredit.
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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A partnership of Azerbaijani companies has submitted an application to participate in the Italian government’s international tender for strategic assets in Italy, Turan reports.
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It is expected that the average Azerbaijani family will allocate a larger portion of their budget to food in 2025, driven by rising social expenditures and increased wages.
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Temporary suspension of gas supplies from Azerbaijan to Serbia will be avoided, Serbian President Aleksandar Vucic announced on Sunday.
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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