FINCA Azerbaijan gets 1% drop in loan book

FINCA Azerbaijan gets 1% drop in loan book
# 31 August 2009 09:54 (UTC +04:00)
Baku. Vugar Israfilov – APA-ECONOMICS. As of August 1, FINCA-Azerbaijan, a non-bank lending institution based in Azerbaijan, posted its portfolio at $66.174 million, down 0.8% on a year ago.

Zaur Nurmammadov, FINCA-Azerbaijan coordinator for projects, said $37.323 went to customers in groups and AZN 28.851 million to customers individually.

The clientele decreased by 0.03% to 83 789.

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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