Azerbaijan, Baku, July 20 /Trend A.Akhundov/
Non-bank credit institution FINCA Azerbaijan expects a 35 per cent increase of its loan portfolio at the end of this year, CEO of FINCA Azerbaijan Manish Sane told reporters on Friday.
"According to our expectations, the credit portfolio will exceed $150 million in 2012, increasing by 35 per cent compared to 2011. In addition, it is expected that the number of clients will increase by 20 per cent to 142 thousand compared to last year," Sane said.
Today, FINCA Azerbaijan has issued credits for $136 million to 129,000 customers.
"About half the portfolio now accounts for small loans and a quarter for medium and large ones. Some 80 per cent of clients took small loans, 15-17 percent - the medium, 3-5 percent - large. Average size of a loan is $1, 500," Sane said.
He said the company aims to further increase its share of the regions in the structure of its portfolio.
"Today 80 per cent of the loans issued are for accounts in the regions and 20 per cent the capital city. In percentage terms this means that 22-23 per cent of our customers are located in Baku, 77-78 per cent in the regions," Sane said.
FINCA Azerbaijan has 30 branches and 36 sub-branches which provide customers with financial products and services, including rural loan groups, solidarity loan groups, individual express loans and loans for small and medium-sized businesses, as well as individual agricultural loans.
The FINCA Azerbaijan non-bank credit organisation is a subsidiary of the microfinance holding FINCA, managed by FINCA International Inc., which operates in 22 countries around the world and creates a global network of partner experience.
FINCA microfinance holding's mission is to assist low income entrepreneurs in creating the assets required for raising living standards. It is supported by funding from the distributed socially responsible investments of the partnership funds.