Baku, Azerbaijan, Aug. 24
By Eldar Janashvili – Trend:
The total assets of Azerbaijan’s non-bank credit organization (NBCO) FINCA Azerbaijan OJSC in the balance sheet for 2018 amounted to 8.344 million manats, Trend reports with reference to the organization’s audit report.
The organization’s assets decreased by almost 62 percent compared to the previous year.
The main share of assets (89.9 percent) accounted for client loans - 3.828 million manats (a decrease by almost three and a half times during the year). The volume of cash and cash equivalents amounted to 3.198 million manats, having decreased by more than twice.
The total amount of liabilities amounted to 736,000 manats, which is 20 times less than in 2017. At the same time, the NBCO covered debt liabilities in the amount of 10.154 million manats.
The total capital of NBCOs increased by 15 percent, up to 7.608 million manats, mainly due to an increase in the authorized capital of the organization by almost 30 percent up to 3.756 million manats. Retained earnings of FINCA Azerbaijan increased by 4 percent and amounted to 3.852 million manats.
(1 USD = 1.7 AZN on Aug. 24)
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