The active credit portfolio of the non-bank credit organization Ltd. Vision Fund Azerkredit in January-June this year increased $ 7.63 million or 18.2% to $ 49.32 million.
The assets of the company for the period increased $ 9.92 million or 21.4% to $ 56.77 million. The total number of its customers increased 12.4% to 53.03 thousand people.
The share of problem loans in the portfolio rose by 0.05 percentage points to 0.45%. 34% of the borrowers were women (7 percentage points lower than it was at the end of last year).
Ltd. Vision Fund Azerkredit has operated since 2003. For all the time, the company has granted loans totaling $ 110.89 million. A loan is issued for a period of 3 to 30 months, and the amount is in the range $ 100 - $ 10,000. - 15B -
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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