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TBC Credit boosts loan portfolio by 76%

TBC Credit boosts loan portfolio by 76%

15 January 2009 14:22 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, TBC Credit non-bank lending institution (former SOA Credit) posted its loan portfolio at $18.5 million, up 76.2% on a year ago.
TBC Credit said the total capital rose 8% to $10.8 million and authorized capital stood at AZN 10 million. The portfolio went 43% as mortgage loans, 42% as business loans and 15% as consumer loans.
The customer base more than doubled to 1 336 accounts and the number of employees more than doubled to 66.
SOA Credit changed its name to TBC Credit after being acquired by Georgiaâ€™s TBC Bank. The company has started lending loans since 2000.
Georgiaâ€™s TBC Bank took a 75% stake in SOA Credit several months ago.

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