Azerbaijan Mikro-Kredit NBCO's assets marginally up
Baku, Azerbaijan, May 30
By Eldar Janashvili - Trend:
The total assets of Azerbaijan Mikro-Kredit (AMK) non-banking credit organization (NBCO) specializing in micro-lending amounted to 3.1 million manat ($1.82 million) in 2019, which is 4.3 percent more compared to the preceding year, Trend reports with reference to the organization’s audit report.
The overwhelming part of the assets (nearly 93.4 percent) accounted for customer loans – almost 2.9 million manat or $1.7 million (6.6 percent down over the year). About 2.3 percent of all assets accounted for cash and its equivalents worth 71.5 million manat ($42 million), decreasing almost threefold on an annualized basis.
The fixed assets amounted to 103,800 manat ($61,060), slipping by 18.1 percent year-on-year, while intangible ones made up 10,950 manat ($6,440) - 9.5 percent less than in 2018. Other assets amounted to over 17.3 million manat ($10.2 million), which is 3.2 percent less than a year earlier.
The total volume of liabilities amounted to 436,000 manat ($256,470), which is 7 percent more than in 2018. Meanwhile, 91.7 percent of the liabilities amounted to major debts totaling 400,000 manat ($235,290). Other liabilities amounted to 36,000 manat ($21,180).
The total capital of NBCO grew by 3.9 percent to over 2.6 million manat ($1.5 million) due to nearly 6.2-precent increase in the organization’s authorized capital, the share of which in the structure of total capital made up 99.9 percent.
($1= 1.7 manat on May 30)
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