Azerbaijani NBCO reduces its total capital by nearly 40%
Baku, Azerbaijan, Aug. 21
By Eldar Janashvili – Trend:
The total assets of Azerbaijan’s ProKredit OJSC non-bank credit organization (NBCO) amounted to 3.7 million manats in the balance sheet for 2018, Trend reports referring to the organization’s audit report.
During the year, the NBCO’s assets increased by 4 percent compared to the previous year. The main share of assets (72 percent) was comprised of client loans at 2.68 million manats (a decrease by 1.4 percent over the year). The volume of cash and cash equivalents amounted to 141,100 manats, having decreased by more than four times.
The total volume of liabilities amounted to 3.391 million manats, which is 11 percent more than in 2017. More than half of the liabilities (53 percent) was comprised of financial sector liabilities, with their volume having increased by 5.8 percent and amounted to 1.823 million manats.
The total capital of the NBCO decreased by 39.7 percent to 305,700 manats, mainly due to a reduction in the charter capital of the organization by 40 percent.
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