"Azerbaijan Microcredit" stock capital up by 90%

Baku. 16 May. REPORT.AZ/ Assets of "Azerbaijan Microcredit" Ltd non-bank credit organization made AZN 4.111 mln as of January 1, 2017.

Report informs referring to financial report of the organization, this is 80.7% up comparing to the same period in 2016.

In 2016, total liabilities of "Azerbaijan Microcredit" up by 77.8% to AZN 2.897 mln. Loaned funds make 99.5% or AZN 2.883 mln of this amount.

In reporting period, total capital of the organization up by 87.6 to AZN 1.214 mln, stock capital increased by 89.5% to AZN 1.137 mln.

Last year interest income of Azerbaijan Microcredit made AZN 813 thousand (2.5-fold up comparing to 2015), interest expenses – AZN 179 thousand (2.3-fold up), non-interest incomes - AZN 18 thousand (7.6-fold down), non-interest expenses – AZN 540 thousand (60.2% up). Eventually, operating income of the institution made AZN 112 thousand, which is 2.4-fold up in annual comparison.

The credit institution paid around AZN 22 thousand of income tax in 2016 and closed the year with AZN 89 thousand of net profit.

Notably, "Azerbaijan Microcredit" Ltd was founded in 2014 by Shikhaliyev Fuad Vagif.