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Agrarkredit gets AZN 604,000 profit in January-September

01 November 2011 10:37 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, 2011, Azerbaijan-based Agrarkreditâ€™s assets stood at AZN 26.2 mln, down 1.7% from early 2011.

According to Company, the loan portfolio rose 1.2% to AZN 17.1 mln, total capital made AZN 19.9 mln, including authorized capital remained unchanged at AZN 18.5 mln.

Company has given AZN 4.707 mln to 704 entrepreneurship subjects on lending of villages, AZN 2.342 mln to development of cattle-breeding, AZN 394,000 to plant-growing, AZN 1.918 mln to trade and service spheres, AZN 52,000 to other areas. AZN 1.5 mln was given to 118 entrepreneurship subjects on the account of National Entrepreneurship Support Fund.

Besides, 229,600 was given to 79 entrepreneurship subjects in Absheron, Khizi, Siyazan and Shabran regions within the North-East Development Project financed by International Fund for Agricultural Development (IFAD), including AZN 1.244 mln to 470 debtor group and individual entrepreneurs in Gazakh, Aghstafa, Tovuz, Shamkir Regions within the North-West Development Project financed by same Fund.

AZN 196,300 was collected by the branches of the company from use of techniques leased and purchased on the account of grant of Japan Government and Partnership Fund.

Note that, total incomes of the company made AZN 2.970 mln, expenditures â€“ AZN 2.366 mln during the same period. Consequently, profit made AZN 604,000.