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Finance for Development LLC increases loan portfolio by 2.5 times in 2011

Finance for Development LLC increases loan portfolio by 2.5 times in 2011

01 March 2012 14:04 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2012, the volume of troubled loans of Finance for Development non-banking credit organization made AZN 150,000, which is equal to 1.5% of total loan portfolio.

Board Chairman Jelal Aliyev says troubled loans concern mostly the clients, who obtain large-scale loan and do not pay in time. In turn, the unpaid funds are returned through the court trial.

As of January 1, 2012, total loan portfolio of the company made AZN 10 mln, up 2.5 times compared to last year. Besides, customer base grew by two times and reached AZN 10,000.

Aliyev said that the share of loans given to trade sphere in loan portfolio made 40%, agricultural sphere â€“ 20% and other spheres â€“ 40%.

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