Azerbaijan increases number of non-bank credit organizations
Azerbaijan, Baku, Feb.12 /. Trend, N. Ismayilova /
In 2011, the number of non-bank credit organizations (NBCO), operating in Azerbaijan increased by 24 units (23.8 percent), reaching 125 units, the Central Bank of Azerbaijan said on Saturday in its statistical report.
Some 97 of these are credit unions. The figure increased by 15 units during the year. Number of credit organizations, funded by international humanitarian organizations, is 27. Since early year licenses have been issued to 9 organizations. Today 74 branches of these organizations operate in the country.
According to the CBA, in 2011, the authorized capital of all NBCOs operating in the country amounted to 45.48 million manat, assets - 315.54 million manat, while the number of branches - 86 units.
The authorized capital of credit unions is 11.58 million manat, total assets - 38.23 million manat. The authorized capital of credit organizations, funded by international humanitarian organizations - 15.36 million manat, while assets - 251.41 million manat.
The official exchange rate is 0.7863 manat to $1 on Feb.12.