BAKU, Azerbaijan, November 1. Total assets of Azerbaijani non-bank credit organizations (NBCOs) and credit unions increased as of October 1, 2022, Trend reports on November 1 via the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure amounted to 429.6 million manat ($252.7 million), which is 22.3 percent more than as of late 2021.
Assets of the NBCOs as of late September this year made up 478.3 million manat or $281.3 million (an increase of 23.1 percent on annual basis), and credit unions - 14.3 million manat or $8.4 million (unchanged).
As of October 1, 2022, the loan portfolio of the NBCOs equaled 404.3 million manat or $237.8 million (up by 21.3 percent year on year), while credit unions, excluding reserves - 12.1 million manat ($7.1 million).
The capitalization of the NBCOs and credit unions decreased by 23.4 percent in the reporting period - to 214.2 million manat ($126 million).
The liabilities of the NBCOs as of early October 2022 amounted to 273.9 million manat or $161.1 million (a growth of 22.1 percent), and credit unions - 4.5 million manat ($2.6 million).
According to the Central Bank, the total net profit of the NBCOs from January through September 2022 stood at 23.65 million manat or $13.91 million (an increase of 2.3 times compared to the same period in 2021).