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FINCA Azerbaijan shows strong 1Q results

Economy Materials 10 May 2022 17:28
FINCA Azerbaijan shows strong 1Q results

Well-known for its financial services to micro and small business clients in different regions of the country, FINCA Azerbaijan has closed the 1st quarter of 2022 with 24% net income growth compared with the same period of last year. The first quarter performance results also report a 22% increase in the loan portfolio of this leading microfinance organization in Azerbaijan compared with the same period of last year.

According to Company’s CEO Timothy Tarrant, this rapid recovery demonstrates the resilience of the FINCA Azerbaijan customers, who were able to diversify their businesses and reduce their reliance on COVID-19 pandemic impacted sector incomes.

"We believe that the lack of significant long-term restrictions on the agricultural sector allowed our rural clients to bounce back faster from the pandemic’s challenges," emphasized T. Tarrant.

Being a part of a global network that responsibly provides innovative and impactful financial services to enable low-income individuals and communities to invest in their futures, FINCA

Azerbaijan succeeded in the opening of 6 branches in 2021, bringing the total to 22 branches, with another 6 new branches planned for this year to enable better access to financial services for the rural and urban businesses in the regions.

FINCA Azerbaijan is a leader in responsible finance, serving small businesses across the country with loan products to promote profitable business activity. Launched in 1998, FINCA Azerbaijan is part of FINCA Impact Finance’s global network of 18 banks and microfinance institutions, reaching more than 2.8 million clients in five continents.

For more information about FINCA Azerbaijan activities please visit www.finca.az or official social media accounts.

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