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 President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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