AMFA changes its staff members

Business Materials 23 May 2011 13:43 (UTC +04:00)

Azerbaijan, Baku, May 23 / Trend N. Ismayilova /

The Azerbaijani Association of Microfinance Organizations (AMFA) has changed its staff members, AMFA said.

"Gafgaz Leasing company became a new member of the association," the association said. "Moreover, another leasing company is expected to join AMFA."

Two banks - Azer Kredit Bank and Royal Bank, as well as the micro-financial Normicro organization have left the AMFA since early 2011. At present, the number of the association members is 26.

As of late 2010, the total amount of assets of the AMFA members was $3.68 billion. The total amount of loan portfolio of the organizations amounted to $2.13 billion as of late 2010. The number of active clients is 465,982.