NBCO "MJ Financial Services" earned net profit of about 2 million manats last year
NBCO "MJ Financial Services" earned net profit of about 2 million manats last year
Non-bank credit organization (NBCO) "MJ Financial Services" has released its financial indices for 2023.
Last year, the credit structure earned a net profit of 1.9 million manats, which is up by 0.1% from a year earlier.
At the beginning of this year the assets of "MJ financial Services" amounted to 12.95 million manats, which is up by 4.3% from the beginning of the last year, including a loan portfolio 6.3% more - 12.4 million manats.
Given this, the NBCO liabilities amounted to 9.8 million manats (6% less), the balance sheet capital -3.15 million manats (58.1% more), including the authorized capital - 0.3 million manats (unchanged).
Finance
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The analysis shows that the economic growth in Azerbaijan in 2026-2028 will be fully ensured at the expense of the non-oil and gas sector.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In January-August 2024, two state financial institutions of Azerbaijan jointly paid dividends in the amount of AZN 169.9 million, or about $100 million. This is stated in the conclusion of the Accounting Chamber over the Draft Law ‘’On State Budget for 2024‘’.
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President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In 2025, the subsistence minimum in Azerbaijan will amount to AZN 305 for able-bodied population, AZN 232 for pensioners and AZN 246 for children. This is stated in the Draft Law ‘On Subsistence Minimum for 2025’.
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