Microfinance institutions increase lending volume by 7 percent in Azerbaijan

Business Materials 25 July 2011 17:20 (UTC +04:00)

Azerbaijan, Baku, July 25 / Trend, N. Ismayilova /

As of late May 2011, the total assets of members of the Azerbaijani Microfinance Association (AMFA) totaled $3.93 billion compared to $3.68 billion as of late 2010, increasing by 6.8 percent, AMFA said on Monday.

The number of employees of credit organizations dealing with microfinance hit 8,129.

The organization's total loan portfolio amounted to 2. 6 billion in late May; the number of active clients hit 502,383. The share of the portfolio under risk (by exceeding the maturity of the loan by 30 days) was 10.46 percent. The volume of written-off loans hit $ 2.8 million.

The total volume of microfinance portfolio amounted to $568.6 million compared to $488.42 million as of early 2011, increasing by 1.5 percent. The share of the portfolio under risk hit 3.26 percent compared to 3.27 percent in 2010.

The association has 30 members - 12 banks, engaged in microfinance, and 18 non-bank credit organizations established by international humanitarian organizations.