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
-
The Central Bank of Azerbaijan (CBA) has approved ‘requirements for network channels used between payment service providers in rendering payment transaction intermediation services and account information service’. This is reported on the website of the structure.
-
Azerbaijani banks have bought currency worth $7,169.1 million at auctions held jointly by the Central Bank and the State Oil Fund in 2024.This was reported by the Central Bank.
-
The Central Bank of Azerbaijan has cancelled licences of insurance agents issued to 2 more physical entities.This is reported on the website of the regulator.
-
‘Gala Insurance’ company has once again won the open tender for voluntary insurance of goods and materials of the 'Health Care Support Centre' under the Ministry of Health.This is reported on the unified Internet portal of public procurement.
Leave a review