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Volume of client loans of Azerbaijani NBCO down by 7 times

Finance Materials 23 August 2019 19:04 (UTC +04:00)

Baku, Azerbaijan, Aug. 23

By Eldar Janashvili – Trend:

The total assets of Azerbaijan’s TCF OJSC non-bank credit organization (NBCO) amounted to 847,575 manats in the balance sheet for 2018, Trend reports referring to the organization’s audit report.

The organization’s assets decreased by almost 6.5 times compared to the previous year. The main share of assets (89.9 percent) was comprised of client loans at 762,000 manats (a seven-fold decrease over the year). The volume of cash and cash equivalents amounted to 37,500 manats, having increased by 81 percent.

The total volume of obligations amounted to 790,800 manats, which is 6.5 times less than in 2017. The NBCO had no liabilities in the financial sector, despite the fact that a year earlier they amounted to 5.184 million manats.

The total capital of the NBCO decreased by four times to 56,800 manats, mainly due to the increase in the organization’s outstanding loss by 3 times to 243,000 manats.

($1= 1.7 manats on Aug. 23)

Follow the author on Twitter: @eldarjanashvili

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