Debt obligations of Azerbaijani NBCO KredAqro grow by almost 2.5 times
Baku, Azerbaijan, Aug. 27
By Eldar Janashvili - Trend:
The volume of total assets of Azerbaijan’s KredAqro non-bank credit organization (NBCO) amounted to 7.989 million manats in the balance sheet for 2018, Trend reports referring to the organization’s audit report.
The organization’s assets remained almost unchanged compared to the previous year. About half of the assets (52 percent) were comprised of client loans at 4.14 million manats (a decrease by 12.5 percent for the year). The volume of cash and cash equivalents amounted to 632,000 manats, having increased by almost five times.
The total volume of liabilities on an annualized basis decreased by 0.8 percent and amounted to 6.675 million manats. About half of the liabilities (52.5 percent) were comprised of deferred income in the amount of 3.507 million manats. Their volume relative to the results of 2017 decreased by 32.4 percent. In the structure of liabilities, about 44 percent of the total volume amounted to debt obligations in the amount of 2.935 million manats (an increase of almost 2.3 times over the year).
KredAqro’s total capital increased by 8.3 percent and amounted to 1.314 million manats, mainly due to a reduction in the organization’s uncovered loss by 10.2 percent to 732,200 manats.
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