Non-banking credit organisation "Azfinans" earned paltry profit last year
The NBCO "Azfinans" has published its financial indices for 2023.
Last year the credit organisation earned a net profit of only AZN 2,000 (the previous year it finished with a loss of AZN 3,000).
Recall that "Azfinans" assets at the beginning of this year were 4% more than at the beginning of last year - AZN 389,000, including the loan portfolio 16.6% more - AZN 373,000. At that, NBCO's liabilities amounted to AZN 88,000 (14.3% more), the balance sheet capital - AZN 301,000 (1.3% more), including the authorized capital - AZN 300,000 (unchanged).
Finance
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The Accounting Chamber has revealed shortcomings in the Baku State University and the Azerbaijan State Academy of Physical Culture and Sport.
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In 2023, the salary costs of employees of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 9.8 million manats. This is stated in the financial statements of the Fund, which were audited at the end of the last year.
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Azerbaijan's justified state budget expenditures totalled AZN 4,948 million in the first half of 2024.
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As of the end of June 2024, credit unions in Azerbaijan had a balance sheet capital of AZN 9.1 million. This is stated in the credit union review published by the Central Bank of Azerbaijan.
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