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Azerbaijan unveils non-bank credit organization’s goal for 2022

Finance Materials 17 March 2022 10:47 (UTC +04:00)
Azerbaijan unveils non-bank credit organization’s goal for 2022
Nazrin Israfilova
Nazrin Israfilova
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BAKU, Azerbaijan, March 17. The loan portfolio of the Azerbaijani City Finance non-bank credit organization amounted to about 20.3 million manat ($11.9 million) in February 2022, which is by 5.7 percent more than in January 2022, Tural Ahmadov, director of City Finance, told Trend.

Ahmadov said that the loan portfolio of the non-bank credit organization amounted to about 19.2 million manat ($11.3 million) in January 2022.

“This year, City Finance plans to maintain the growth rate of the loan portfolio which was observed in 2021,” director of City Finance said. “About 7.5 million manat ($4.4 million) out of the total loan portfolio accounted for auto loans, 12.5 million manat ($7.3 million) - consumer loans and microloans.”

Ahmadov added that the net profit of the non-bank credit organization amounted to 287,000 manat ($168,823) in February 2022, which is by 9.5 percent more than the previous month.

“The net profit of City Finance amounted to 262,000 manat ($154,117) in January 2022,” director of City Finance said.

Ahmadov also said that the main priority of the non-bank credit organization is to render financial support for the development of micro, small and medium-sized businesses through rendering the financial services.

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