90% of assets of credit unions in Azerbaijan account for loan portfolio
BAKU, Azerbaijan, Oct. 26
By Kamala Mammadli - Trend:
The total assets of credit unions in Azerbaijan from January through September 2019 amounted to 15.9 million manat ($9.3 million) and total liabilities - 6.1 million manat ($3.6 million), Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority.
As of Sept. 30 this year, 90 percent (14.3 million manat, or $8.4 million) of the assets of credit unions accounted for the loan portfolio.
During the reporting period, the bulk of the liabilities of credit unions accounted for loans raised from banks and other financial institutions.
In September, the balance capital of credit unions amounted to 9.8 million manat ($5.8 million).
($1= 1.7 manat on Oct. 26)