Microfinance increases by 14 percent in Azerbaijan in early 2011
Azerbaijan, Baku, June 13 / Trend N. Ismayilova /
As of late April 2011, total assets of members of the Azerbaijan Microfinance Association (AMFA) totaled $3.86 billion compared to $3.68 billion as of late 2010, increasing by 5 percent, the AMFA said on Monday.
The number of employees of credit organizations dealing with microfinance hit 7,515.
The organization's total loan portfolio amounted to 2.56 billion in late April; the number of active clients hit 492,151. The share of the portfolio under risk ( by exceeding the maturity of the loan by 30 days ) was 9.6 percent. The volume of written-off loans hit $ 2.8 million.
The total volume of microfinance portfolio amounted to $560 million compared to $488.42 million as of early 2011, increasing by 14.7 percent. The share of the portfolio under risk hit 3.14 percent.
The association has 30 members - 12 banks, engaged in microfinance, and 18 non-bank credit organizations established by international humanitarian organizations.