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FINCA Azerbaijan gets 24.9% rise in loan portfolio

FINCA Azerbaijan gets 24.9% rise in loan portfolio

18 April 2009 12:48 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. As of April 1, FINCA Azerbaijan, a non-bank lending institution of Azerbaijan, posted its portfolio at $61.78 million, up 24.9% on a year ago.
The company said $32.55 went to customers in groups and AZN 29.22 million to customers individually.
The loans are available for union groups at 2.5-3% monthly, rural community groups at 3.5% monthly and individuals at 2-3%.
FINCA Azerbaijan is part of the FINCA International network, which developed the village banking method of microfinance which emphasizes the formation of community-based credit and savings associations, was established in 1998.

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