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 Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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