Net profit of NBCO Merkuri down by 16%

Non-bank credit organization (NBCO) Merkuri ended 2022 with a net profit of 60,000 manats ($35,306) - 15.5% less than in 2021, Report informs, citing the organization.

Last year, the profit before taxation of Merkuri CJSC amounted to 74,000 manats ($43,543) - 14% less year-on-year, and income tax payments remained unchanged at 15,000 manats ($8,827).

As of January 1, 2023, Merkuri's assets amounted to 5.724 million manats ($3.36 million) - 48.9% year-on-year. Meanwhile, 5.028 million ($2.95 million) of them are loans issued to customers. In 2022, the loan portfolio of the NBCO grew by 57%.

During the reporting period, Merkuri's liabilities increased by 64.3% - up to 5.048 million ($2,97 million), while the balance sheet capital decreased by 12.5% to 676,000 manats ($397,784).