Azerbaijani Non-Bank Credit Organization’s Portfolio to be Expanded to AZN 51mln by End of 2008

Business Materials 12 April 2008 13:08 (UTC +04:00)

Azerbaijan, Baku, 12 April / Trend corr U. Ismayilova/ The non-bank credit organization Cred Agro plans to expand its portfolio to AZN 51mln by the end of the year, Cred Agro's Deputy Chairman on Credit Operations Orkhan Hasanov said on 11April.

"The organization will expand its portfolio through drawn credits," Hasanov said.

For the time being, Cred Agro has over 15 investors.

In 2007, Cred Agro's portfolio amounted to AZN 32mln as a result over 10,000 projects. The company's statutory capital totals AZN 7mln. In 2007, the organization completely spent the $3mln-credit which was allotted by the European Bank for Reconstruction and Development.

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