2022 brings further growth for FINCA Azerbaijan

Economy Materials 3 February 2023 17:11 (UTC +04:00)
2022 brings further growth for FINCA Azerbaijan

FINCA Azerbaijan NBCO loan portfolio surpassed 50 million AZN during 2022 and this leading microfinance organization's loan sales grew by 39%.

By embracing technology to improve customer service and increasing the channels of interaction and communication with clients, FINCA Azerbaijan managed to increase the number of clients from 19,220 to 25,517, achieved 33% growth. FINCA disbursed 63 million AZN microloans to support small entrepreneurs and household business owners.

"It was a challenging, but also a strong year for all of us after facing various post pandemic tasks and additional global market turbulence. I am happy that we were able to achieve this result and the team demonstrated a dedicated approach to our commitment to impact the lives of many thousands of small entrepreneurs in Azerbaijan for their sustainable futures," said Timothy Tarrant, FINCA Azerbaijan CEO. "We also increased our geographic coverage and opened three new branches last year, bringing our total national branch network to 25. In addition, we are well positioned to deliver sustainable growth further this year, again maintaining our rural and regional focus."

According to 2022 results, FINCA Azerbaijan was able to increase not only customer portfolio but also customer satisfaction with financial services provided; a large-scale customer survey conducted in the second half of the year revealed that 97% of clients expressed a willingness to recommend FINCA services to others.

About FINCA Azerbaijan

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 17 banks and microfinance institutions, reaching more than 2.8 million clients on five continents.

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