Agrarkredit’s Q1 profit outdoes AZN 300,000

Agrarkredit’s Q1 profit outdoes AZN 300,000
# 21 April 2011 12:29 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, 2011, Azerbaijan-based Agrarkredit’s total assets stood at ANZ 27.2 mln, up 2.01% from year earlier.

Company says loan portfolio remained unchanged at AZN 16.9 mln, total capital rose 42.8% to AZN 119.7 mln, including authorized capital stood steady at AZN 18.5 mln.

Company has given AZN 1.159 mln loan to 165 entrepreneurship subjects, including AZN 507 000 to development of cattle-breeding, AZN 115,400 to development of plant-growing, AZN 500,000 to trade and service spheres, AZN 36,500 to other spheres. AZN 403,000 loan was given to the 30 entrepreneurship subject on the account of NESF.

Besides, it gave AZN 38,000 to the 12 entrepreneurship subjects and borrowing group in Absheron, Khizi, Siyazan and Shabran regions within the North-East village development project financed by IFAD, including AZN 380,200 to 145 borrowing group in Agstafa, Tovuz and Shamkir region within the North-West village development project.

At the same time, AZN 43,800 was collected from the use of agricultural techniques leased to agriculturalproducers, on the account of Partnership Fund

Total income made AZN 1.225 mln, expenditure – AZN 916,000. At the result, the profit made AZN 309.400.
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