Baku, Azerbaijan, Aug. 22
By Eldar Janashvili - Trend:
The volume of total assets of Azerbaijan’s non-bank credit organization (NBCO) Finoko amounted to 23.665 million manats in the balance sheet for 2018, Trend reports with reference to the organization’s audit report.
Over the year, the organization’s assets increased by 71 percent compared to the preceding year.
The main share of assets (59 percent) accounted for client loans - 14 million manats (a 5.6-fold increase over the year). The volume of cash and cash equivalents amounted to 3.597 million manats, which is an increase of 16.8 percent.
The total volume of liabilities amounted to 20.44 million manats, which is 65 percent more than in 2017. A quarter of the liabilities accounted for attracted funds in the amount of 4.9 million manats.
The total capital of the NBCO more than doubled, up to 3.225 million manats, mainly at the expense of an increase in retained earnings of the organization by 4.7 times, up to 2.225 million manats.
($1= 1.7 manats on Aug. 22)
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