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Loan portfolio of Azerbaijani non-bank credit organization more than doubles

Finance 20 January 2022 10:53 (UTC +04:00)

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.

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