Azerbaijan's credit unions incurred losses of AZN 0.5 million in 9 months
The Central Bank of Azerbaijan has published a review of credit unions on the results of January-September 2024.
The document says that local credit unions suffered losses of AZN 0.5 million in 9 months, which is up by 76.7% from the same period of the last year.
In the reporting period, credit unions earned AZN 1.4 million of interest income, AZN 0.2 million of non-interest income, incurred AZN 0.1 million of interest expenses, AZN 0.9 million of non-interest expenses, created a special reserve for overdue loans in the amount of AZN 1.2 million, and saved AZN 0.1 million on income tax payment.
Finance
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