Azerbaijan's Finoko NBCO talks new credit evaluation system
BAKU, Azerbaijan, May 23
By Fidan Babayeva – Trend:
Azerbaijani Finoko NBCO OJSC uses the latest credit rating system - the Finscore Scoring Financial Strength Index, Board Member, Customer Relationship Director of Finoko OJSC NBCO Boyukaga Mammadov told Trend.
“This system, displaying the state of liquidity, solvency, profitability and business activity of the company, is being improved. The loan specialists of our organization analyze the business of clients using e-trade platforms and send the received information to the back-office,” said Mammadov.
“Another project implemented by the NBCO is support for startups and their evaluation. Finoko invests in or funds local startups at all stages of development. Lending to start-ups and fast-growing innovative high-tech enterprises is carried out at a high level, using online financing,” he added.
Finoko NBCO has been operating since 2014. The organization’s mission is to issue loans in a quick and affordable way.
The authorized capital of the organization is 4.8 million manat ($2.8 million), and the total capital is 8.09 million manat ($4.7 million).
In Azerbaijan, Finoko NBCO has four branches, three of which are regional, and one in Baku.
The organization provides loans for financing of small and medium-sized businesses, consumer lending, including for the development of agriculture both independently and via Azerbaijan’s Entrepreneurship Development Fund and the Agrarian Credit and Development Agency (AKIA) under the Ministry of Agriculture.
(1 USD = 1.7 manat on May 23)
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