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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Rashad Huseynov has been appointed as the new director of the Center for Agricultural Research under the Ministry of Agriculture, replacing Firdousi Fikretzade who led the center since 2019. Fikretzade stepped down from his position on June 10 at his own request.
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Since July 1, bus and metro fares have increased by 10 qəpik, reaching 50 qəpik. The fare for buses on the Baku-Sumgayit route has risen from 60 qəpik to 70 qəpik. However, it is reported that there has been no improvement in service quality following the price increase. According to complaints, air conditioners are not working on buses operating in the periphery, and overcrowding persists.
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Rovshan Najaf, President of the State Oil Company of the Republic of Azerbaijan (SOCAR), held a meeting with Bojan Kumer, Slovenia's Minister of Environment, Climate and Energy, to discuss bilateral cooperation in the energy sector.
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Azerbaijani Energy Minister Parviz Shahbazov met with a delegation led by the World Bank's Regional Director for the South Caucasus, Roland Price, to discuss the development of cooperation in the energy sector.
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