FINCA-Azerbaijan gets 53% rise in loan portfolio

FINCA-Azerbaijan gets 53% rise in loan portfolio
# 24 December 2008 12:27 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of December 1, FINCA Azerbaijan, a non-bank lending institution of Azerbaijan, posted its portfolio at $67.590 million, up 52.6% on January 1.
The company’s coordinator Zaur Nurmammadov said $34.024 went to customers in groups and AZN 33.566 million to customers individually.
The rise was 49.1% in loan portfolio for customers in groups and 56.4% in loan portfolio for individuals, compared to January 1.
The loans are available for union groups at 2.5-3% monthly, rural community groups at 3.5% monthly and individuals at 2-3%. The number of customers rose 14.5% during January-November to 85 036.
FINCA Azerbaijan is part of the FINCA International network, which developed the village banking method of microfinance which emphasizes the formation of community-based credit and savings associations, was established in 1998.
As of August 1, the paid-in capital stood at $5 000.
1 2 3 4 5 İDMAN XƏBƏR
#
#

THE OPERATION IS BEING PERFORMED