Baku. Vahab Rzayev - APA-Economics. As of January 1, Azerbaijan-based TBC Credit non-bank lending institution (former SOA Credit) posted its loan portfelio at $16.3 million.
“The portfolio is comprised of 1 451 loans. Half of them are business loans, 36% mortgage loans and 14% consumer loans,†said the statement by TBC Credit.
According to the report, last year TBC Credit mostly focused on lending to small and medium business, launched service centers in Sumgait and Lokbatan, resumed lending immediate consumer loans in the size of up to AZN 5 000 for up to 18 months.
Besides, TBC Credit secured a $12 million long-term loan from OPIC in November 2009.
Established in Azerbaijan in 1999, SOA Credit changed its name to TBC Credit after being acquired by Georgia’s TBC Bank in May 2007. The company has started lending loans since 2000.
Georgia’s TBC Bank took a 75% stake in SOA Credit.
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