BAKU, Azerbaijan, Jan. 20
By Nazrin Israfilova - Trend:
The loan portfolio of the Azerbaijani City Finance non-bank credit organization amounted to about 18 million manat ($10.6 million) in 2021, which is by 125 percent more compared to 2020, director of City Finance Tural Ahmadov told Trend.
Ahmadov added that the loan portfolio of the non-bank credit organization amounted to about eight million manat ($4.7 million) in 2020.
“This year, City Finance plans to maintain the growth rate of the loan portfolio which was observed in 2021,” the director of City Finance non-bank credit organization said.
“The authorized capital of City Finance non-bank credit organization amounted to five million manat ($2.9 million) in 2021, remaining unchanged compared to 2020,” Ahmadov said. “The income of the non-bank credit organization amounted to three million manat ($1.8 million) while net profit - 2.2 million manat ($1.3 million) in 2021. City Finance non-bank credit organization’s auto loan portfolio amounted to seven million manat ($4.1 million) in 2021. We plan to double this figure in 2022.”
The main priority of City Finance non-bank credit organization is to render financial support to the development of micro, small and medium-sized businesses by rendering financial services.