‘FINCA Azerbaijan’ to increase credit portfolio to $200 million by year end

Azerbaijan, Baku, September 5 /Trend, E.Aliyev/

The volume of the credit portfolio of the non-bank credit organisation FINCA Azerbaijan increased by 22.21 per cent, company director Manish Sane said at a press conference dedicated to the organisation's activity since early 2013.

"We began to operate in Azerbaijan in 1998 and the company formed its credit portfolio of $62,450 in the same year. Currently, its volume amounts to $184.93 million and the number of FINCA Azerbaijan's clients has increased by almost seven per cent to 146.210 people," Sane said.

According to him, the growth dynamics of the organisation's credit portfolio remains positive.

"The most dramatic growth was recorded between 2005 and 2009. We even managed to maintain positive dynamics in the period of global economic crisis that is also observed today. Our goal is to increase our credit portfolio to 200 million by the end of 2013," Sane noted.

According to him, the quality of credit portfolio of the non-bank credit organisation is also at high level.

"The share of problem loans in the total portfolio doesn't exceed 0.5 per cent. This figure remains unchanged over the past 10 years," Sane said.

FINCA Azerbaijan has operated in Azerbaijan since 1998. Around 31 branches and 33 sub branches of the organisation operate in Baku and in the country's regions.

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