BAKU, Azerbaijan, Oct. 28
By Eldar Janashvili – Trend:
The total operating revenues of the Azerbaijani non-bank credit organizations amounted to 14 million manat ($8.2 million) from January through September 2019, Trend reports referring to the reporting data of Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
In accordance with the data, their net profit amounted to 14.7 million manat ($8.6 million). The operating profit of credit unions for the reporting period reached one million manat ($588,235) while the net loss amounted to 900,000 manat ($529,411).
Return on assets (ROA) and equity (ROE) for credit institutions amounted to 6.2 percent and 15.6 percent, respectively.
Seven of 45 existing non-bank credit organizations and 47 credit unions have external capital. The minimum share of foreign capital in these non-bank credit organizations is 50 percent, while the maximum share is 100 percent.
As of September 30, 2019, the number of employees in the non-bank credit organizations increased by 138 people (7.2 percent) and reached 2,043 people. In total, there are 217 branches of non-bank credit organizations and credit unions.
(1 USD = 1.7 AZN on Oct. 28)
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