Baku, Azerbaijan, Aug. 15
By Eldar Janashvili - Trend:
Azerbaycan Mikro-Kredit (AMK), a non-bank credit organization (NBCO) in Azerbaijan, specializing in the issuance of micro-loans, completed 2018 with a profit of 54,500 manats, while 2017 was completed with a profit of 100,000 manats, Trend reports referring to the organization's audited report.
According to the report, the net interest income of NBCO amounted to 595,000 manats (a decrease of 10.9 percent over a year). It was formed from interest income of 680,800 manats (a decrease of 12.8 percent over a year) and interest expenses of 85,700 manats (a decrease of 24.1 percent over a year).
Non-interest income, having decreased by two percent, amounted to 681,800 manats at the end of June 2019. However, expenses, having increased by 6.5 percent, amounted to 607,400 manats.
Operating profit for the year amounted to 74,300 manats, which is 40 percent less than the same period last year.
In the balance sheet of the organization, the volume of total assets amounted to 2.96 million manats, having decreased by 6.1 percent compared to the previous year. The main share of assets (87 percent) was made by client loans - 2.6 million manats (a decrease by 10 percent over a year). The total volume of obligations amounted to 407,500 manats - two times less than in 2017. The capital of NBCO increased by 9.3 percent to 2.5 million manats, mainly due to an increase in the authorized capital by 11.7 percent.
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