Bank Of Baku

Azerbaijan-based credit unions increase crediting by 8% year-on-year

Azerbaijan-based credit unions increase crediting by 8% year-on-year
# 05 April 2011 14:35 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, 2011, total loan portfolio of ACUA (Azerbaijan Credit Unions Association) member organizations stood at AZN 27.5 mln, up 8.3% compared to a year ago, Chairman of BOD Elchin Bagirov told APA.

According to him, total assets rose 6.9% to AZN 30.6 mln, authorized capital soared 6.5% to AZN 8.2 mln. At the same time, number of credit unions surged 14% to 75, members climbed 3.9% to 19 000.

Remind that, ACUA has been in operation since 2003.
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