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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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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