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CredAgro non-bank financial institution sees 51% rise in clientele

CredAgro non-bank financial institution sees 51% rise in clientele

15 February 2010 11:38 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based non-bank microfinance institution CredAgro posted its clientele at 20 145, up 51.33% from January 1, 2009 and loan portfolio at AZN 35.520 million down 13% year-on-year.

CredAgro said the portfolio went AZN 10.129 million to unpawned business loans, AZN 1.130 million to leasing sector, AZN 9.823 million to trade, AZN 0.468 million to production, AZN 1.695 million to agricultural development, AZN 10.314 million to consumer financing and AZN 1.963 million to other sectors.

CredAgro, was set up by US based ACDI/VOCA in 2000.

CredAgro lends loans at 25-36% annually.

It operates 14 branches and 8 representative offices throughout the country.

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