Micro-crediting volume ups by 32 percent in Azerbaijan in 2011

Business Materials 31 January 2012 18:37 (UTC +04:00)

Azerbaijan, Baku, Jan. 31 / Trend N. Ismayilova /

As of late 2011, total assets of members of the Azerbaijan Microfinance Association (AMFA) hit $4.443 billion compared to $3.68 billion as of late 2010, AMFA said today. The micro-finance institutions' assets increased by 20.7 percent for 2011.

The number of employees in credit institutions, dealing with micro-financing reaches 8,480 people.

The total volume of the organizations' loan portfolio hit $2.895 billion as of late 2011. The number of active clients hit 571,834. The share of portfolio at risk of amounted to 9 percent compared to 8.28 percent as of early 2011. The volume of written-off loans hit $2.92 million.

The total volume of the micro-credit portfolio amounted to $646 million compared to $488.42 million as of early 2011. The figure increased by 32.3 percent. The share of the micro-credit portfolio under risk is 3 percent compared to 3.27 percent as of 2010. The volume of written-off loans hit $424,990.

The association has 30 members, including 12 banks dealing with micro-financing and 18 non-bank credit organizations established by international humanitarian organizations.

The official exchange rate is 0.7864 AZN/USD on Jan. 31.