Azeri Micro-financing bank to increase its assets to $180m

Business Materials 12 June 2006 14:30 (UTC +04:00)

By 2010 the assets of the Azerbaijani Micro-financing Bank will increase to $180m, the chairman of the Management Board of the bank, Tomas Engelhard told Trend. At present the banks assets comprise $35m.

Рўhe current credit portfolio comprises $25m, though since the beginning of the activities the amount of credits approved made up $65m. By 2010 the credit portfolio of AMFB will reach $150m, he said.

According to Engelhard, by the end of 2006 the shareholders of the bank plan to increase the statutory capital, which today constitutes $5.85m. The shareholders voiced their agreement upon the fulfillment of the capital and at present its amount is under definition.