Baku, Azerbaijan, June 10
By Eldar Janashvili - Trend:
The total assets of International CSJC, an Azerbaijani non-bank credit organization (NBCO) specializing in micro-lending amounted to 10.5 million manat ($6.1 million) in 2019, which is 22.5 percent more compared to the preceding year, Trend reports on June 10 with reference to the NBCO’s audit report.
Most of the assets, equaling to nearly 89 percent, accounted for customer loans - 9.3 million manat or $5.4 million (an increase over the year by 34.4 percent). About 7.7 percent of all assets accounted for cash and its equivalents making up 811,200 manat ($477,180), which is 25 percent down on an annualized basis.
Property and equipment amounted to 307,620 manat ($180,950), an increase of 85.4 percent year-on-year. Intangible assets amounted to 10,900 manat ($6,410), which is by 17.1 percent less than in 2018. Other assets amounted to 14.7 million manat ($8.6 million), 3.4 times more than a year earlier.
The total volume of liabilities amounted to 9.7 million manat ($5.7 million), showing 24.5-percent growth compared to 2018. Meanwhile, 57.8 percent of liabilities accounted for major debts totaling 5.6 million manat (nearly $3.3 million). Other liabilities amounted to 182,400 manat ($107,290).
The total capital of NBCO increased by 1.8 percent to 771,600 manat ($453,880) due to a reduction of almost 5.8 percent in the organization’s uncovered loss.
(1 USD = 1.7 AZN on June 10)
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