Baku, Azerbaijan, Oct. 10
By Taleh Mursagulov – Trend:
The Azerbaijani microlending market has become much more active compared to previous years, Nukri Tetrashvili, Director General of TBC Kredit non-bank credit organization, said in an interview with Trend.
“In 2018 the improvement of the Azerbaijani microlending market was observed,” he said.
"The activity of TBC Kredit clients testifies that,” Tetrashvili said. “If we compare it with previous years, the activity has greatly increased.”
As an example, he stressed that if in January 2018 the non-bank credit organization issued loans for one million manats, then in September 2018, this figure increased to two million manats.
“During the pre-crisis period, the non-bank credit organization issued loans of about 2-2.5 million manats monthly,” he said.
“That is, the market has definitely revived and stability of the manat rate contributes to that,” Tetrashvili stressed.
“When borrowers see stability in the market, they are not afraid to reinvest in their business and, accordingly, an increase in activity is observed in the microlending market,” he added.
TBC Kredit has been operating in Azerbaijan since 1999.