The active loan portfolio of non-bank credit organization LLC Vision Fund Azerkredit in January- September 2013 increased by $ 12.44 million or 21.9% to $ 69.36 million.
Assets of the company during the reporting period increased by $ 14.41 million or 21.4 % to $ 81.75 million and the total number of customers increased 11.8% to 71.47 thousand people.
The share of problem loans in the portfolio of the company rose by 0.06 percentage points to 0.27 %. 34.31 % of the borrowers were women (0.81% more than in late 2012).
Ltd. Vision Fund Azerkredit has operated since 2003. For all the time the company has issued loans totaling $ 159.88 million. The loans are issued for 3 to 30 months , with the amount in the range of $ 100 - $ 10,000 . - 15B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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