Non-bank credit organization's loan portfolio increased by 19 percent in 2010

Business Materials 18 January 2011 13:31 (UTC +04:00)

Azerbaijan, Baku, Jan.18 / Trend N. Ismayilova /

During 2010 the loan portfolio of non-bank credit organization TBC Kredit increased by 19 percent, the organization said.

"As of Jan.1, the loan portfolio of TBC Kredit amounted to $19.3 million with 1.973 active loans," the organization said.

Some 43 percent of the loan portfolio is business loans, 11 percent - micro-business loans, 28 percent - mortgage and 18 percent consumer loans.

TBC Kredit has been operating in Azerbaijan since 1999. Since December 2007, the leading Georgian bank TBC Bank has owned about 75 percent in the organization. A 25-percent share is owned by ShoreBank International Ltd. The organization's authorized capital is $10 million.