Liabilities of AzmikroInvest LLC down by almost 30%
Baku, Azerbaijan, Aug. 26
By Eldar Janashvili – Trend:
The total assets of Azerbaijan’s Azmicroinvest LLC non-bank credit organization (NBCO) amounted to 1.73 million manats in the balance sheet for 2018, Trend reports referring to the company’s audit report.
According to the audit report, the company’s assets decreased by 3.9 times over the year (when compared to the previous year).
The main share of assets (90.5 percent) was made by client loans at 1.566 million manats (an increase of 5.7 percent over the year). The volume of cash and cash equivalents amounted to 26,800 manats, having decreased by almost 4 times.
The total volume of obligations amounted to 573,200 manats, which is 29.4 percent less than in 2017. Almost all liabilities (99.6 percent) were comprised of liabilities in state funds, the volume of which amounted to 571,100 manats.
The NBCO’s total capital increased by 16.9 percent to 1.157 million manats, mainly due to the retained earnings of the organization in the amount of 57,000 manats and repayment of the loss in the amount of 10,700 manats.
Follow the author on Twitter: @eldarjanashvili