Micro-crediting volume ups by 23 percent in Azerbaijan
Azerbaijan, Baku, Nov. 20 / Trend N. Ismayilova /
As of late September 2011, total assets of members of the Azerbaijan Microfinance Association (AMFA) hit $4.112 billion compared to $3.68 billion as of late 2010, AMFA said on Friday. The micro-finance institutions' assets increased by 11.7 percent for three quarters.
The number of employees in credit institutions, dealing with micro-financing reaches 8,363 people.
The total volume of the organizations' loan portfolio hit $2.8 billion as of late September. The number of active clients hit 530,171. The share of portfolio at risk of amounted to 10 percent compared to 8.28 percent as of early 2011. The volume of written-off loans hit $2.82 million.
The total volume of the micro-credit portfolio amounted to $600.83 million compared to $488.42 million as of early 2011. The figure increased by 23 percent. The share of the micro-credit portfolio under risk is 3.3 percent compared to 3.27 percent as of 2010. The volume of written-off loans hit $426,600.
The association has 30 members, including 12 banks dealing with micro-financing and 18 non-bank credit organizations established by international humanitarian organizations.