Credit portfolio of non-bank credit organization TBC Kredit expanded in January-October 2013 by $ 3.62 million, or 9.9% to $ 40.11 million. During the reporting period the company's micro crediting increased $ 2.19 million or 25.4 % to $ 10.52 million.
Assets of the company increased $ 4.18 million or 10.9% to $ 42.25 million and the customer base expanded by 14 percent to 4,140 persons.
The share of problem loans in total loan portfolio increased 0.26 percentage points to 0.83 %, and the share in the micro crediting - by 0.34 percentage points to 0.52 %.
The company has credited a total of $ 154.013 million, of which $ 34.601 million was micro credit.
TBC Kredit provides loans for a period from one year to 10 years. Loan amount varies from 300 to 200 000 manat. The interest rate starts from 18 percent and above. The portfolio is traditionally dominated by business loans. -15D-
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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