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Azerbaijan – one of leaders of CIS microcredit market

Business Materials 26 September 2017 11:28 (UTC +04:00)
Azerbaijan ranks second in the microcredit market among CIS countries with a specific weight of 24 percent ($337.6 million).
Azerbaijan – one of leaders of CIS microcredit market

Baku, Azerbaijan, Sept. 26

By Azad Hasanli – Trend:

Azerbaijan ranks second in the microcredit market among the CIS countries with a specific weight of 24 percent ($337.6 million), says a report of Kazakhstan’s Finprom company.

According to the report, which is based on data of the international organization Microfinance Information Exchange, Kazakhstan is the leader in this sector with 33 percent ($464.3 million).

Tajikistan ranks third, where the total amount of micro loans is $191 million (13.6 percent of the total volume in the CIS).

Volume of micro loans in the CIS *(on non-bank credit institutions):

Country

Loan portfolio (million USD)

Number of active borrowers

Azerbaijan

337.6

274,800

Armenia

162

116,100

Kazakhstan

464.3

254,500

Kyrgystan

98

156

Moldova

30

19,300

Russia

86.3

36

Tajikistan

191

232,400

Uzbekistan

37.1

700

Ukraine

0.7

700

* Excluding data for Turkmenistan

Meanwhile, Azerbaijan ranks first for the number of customers of non-bank credit organizations – 274,800 entities. Azerbaijan is followed by Kazakhstan (254,500 entities) and Tajikistan (232,400 entities).

Kazakhstan’s microfinance organization KMF is the biggest organization in the CIS for the number of active borrowers in 183,300 entities.

Big non-bank credit organizations in the CIS in terms of the number of active borrowers (2016):

Non-bank credit organization

Number of active borrowers

Loan portfolio (million USD)

KMF (Kazakhstan)

183,330

154.37

FINCA Azerbaijan (Azerbaijan)

121,740

111.29

Mol Bulak Finance (Kyrgyzstan)

114,230

49.66

IMON International (Tajikistan)

98,070

82.19

Azercredit (Azerbaijan)

64,700

46.82

FINCA Armenia (Armenia)

41,620

55.26

Arvand (Tajikistan)

37,390

26.18

HUMO (Tajikistan)

32,560

22.81

FINCA Tajikistan (Tajikistan)

29,210

20.31

AREGAK (Armenia)

26,490

33.97

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