Azerbaijani, Baku, Jan.13 / Trend /
The Azerbaijani state non-banking credit organization AqrarKredit ended 2011 with profits of 221,500 manat, AqrarKredit reported on Friday.
Income amounted to 4.118.5 million manat and expenditures reached 3.897 million manat in 2011, the statement reported.
Total assets amounted to 25.9 million manat including loan portfolio at 16.6 million manat as of Jan.1, 2012. Total portfolio of the credit organization amounts to 19.5 million manat including authorized capital at 18.5 million manat.
Aqrarkredit allocated 6.3 million manat from its own funds to lend 606 entrepreneurship entities living in the countryside and 1200 members of 301 borrowers groups. Of these funds, 3.3 million manat were transferred to animal husbandry development, 0.5 million manat - crop sector, 2.4 million manat -trade and services and 0.1 million manat - other fields.
As an authorized representative of the National Fund for Entrepreneurship Support credit organization loans worth 1.8 million manat were given to 139 entrepreneurship entities in 2011.
Aqrarkredit collected 259,900 manat on the partnership fund's account from using leased machinery to producers of agricultural production, purchased by the funds of Japanese government's grant.
Agrarkredit's main shareholder is the Finance Ministry, which owns 99.9 percent of shares in the credit organization and the rest is divided equally between Azersigorta State Insurance Company and Irrigation and Water Management.
The official exchange rate is 0.7864 AZN to $1 on Jan.13.