BAKU, Azerbaijan, February 14. Assets of Azerbaijan's non-banking credit organizations (NBCOs) have more than tripled in the last three years, Head of the Department of Supervision of Credit Institutions at the Central Bank of Azerbaijan Khayyam Ismayilov said at the Azerbaijan Financial Forum today, Trend reports.
He indicated that at present, there are 57 NBCOs functioning within the national framework.
The official indicated that over the past fiscal year, the asset portfolio within the NBCO sector experienced a substantial uptick of 31 percent, culminating in a valuation of one billion manat ($590 million).
"This is now a historical record. Along with assets, other indicators have also increased: the credit portfolio grew by 35 percent, liabilities increased by 21 percent, and capital rose by 45 percent, reaching 456 million manat ($269.04 million). Over the past year, profitability has increased by 2.1 times, reaching 157 million manat ($92.63 million)," Ismayilov added.
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