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Agrarkredit gets 8% growth in loan portfolio

04 February 2011 08:50 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2011, Azerbaijan-based Agrarkreditâ€™s assets stood at AZN 26.642 mln, up 5.2% from year ago.

Company says loan portfolio rose 8.3% to AZN 16.9 mln, total capital slipped 3.3% to AZN 13.800 mln, including authorized capital remained unchanged at AZN 15.535 mln.

Company has granted AZN 6.234 mln to 652 entrepreneurship subjects, including AZN 2.665 mln to the development of cattle-breeding, AZN 559 000 to plant-growing, AZN 2.714 mln to trade and service spheres, AZN 297 000 to other spheres. Besides, company has allocated AZN 2.351 mln to 162 entrepreneurship subjects via NESF as an authorized credit organization. At the same time, Agrarkredit implements the project, covering Absheron, Khizi and Shabran regions, which financed by International Fund. Within this project, it granted AZN 351 000 to debtor group and 135 individuals engaging in entrepreneurship. At the same time, AZN 309 000 was granted to 106 debtor group and individual entrepreneurs.

Note that, income soared 48% to AZN 6.181 mln, expenditure surged 49% to AZN 6.096 mln. Profit dropped 4.3% to AZN 112 000.

Agrarkredit has been in operation since 2001. The organization operates 12 branches and 4 representations across the country.