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CredAgro non-bank financial institution gets 58% rise in portfolio

CredAgro non-bank financial institution gets 58% rise in portfolio

09 January 2009 13:46 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijanâ€™s non-bank microfinance institution CredAgro posted its portfolio at AZN 50.948 million, up 57.8% on a year ago.
CredAgro said 63% of the portfolio went to businesses, 25% to consumer loans, 6% to leasing and 5% to agriculture. The number of customers increased 60.2% to 13 773.
CredAgro, set up in 2000, is a microfinance institution with a strong focus on agricultural and rural lending.
CredAgro lends loans at 25-36% annually.
It operates 11 branches and 6 offices throughout the country.

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