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FINCA Azerbaijanâ€™s clientele diminishes

25 February 2009 10:14 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of February 1, FINCA Azerbaijan, a non-bank lending institution of Azerbaijan, posted its portfolio at $64.099 million, down 4% on a month ago.
The companyâ€™s coordinator Zaur Nurmammadov said $33.015 went to customers in groups and AZN 32.084 million to customers individually.
The number of customers declined 2.4% to 81 775 (61 181 group customers and 20 594 individual customers).
The loans are available for union groups at 2.5-3% monthly, rural community groups at 3.5% monthly and individuals at 2-3%. 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 February 1, the paid-in capital stood at $5 000.