BAKU, Azerbaijan, May 27. Net profit of Azerbaijan's Finance for Development non-banking loan organization (NBLO) amounted to 813,000 manat ($478,240) in 2023, showing a year-on-year decrease of 23.5 percent, Trend reports.
The bank's financial report data shows that its pre-tax profit was 976,000 manat, or $574,120 (down 15.8 percent), while income tax payments were 163,000 manat, or $95,880 (growth of 69.8 percent).
As of January 1, 2024, the NBLO assets amounted to 11.3 million manat, or $6.65 million (an increase of 20.1 percent), and customer loans amounted to 10 million manat ($5.9 million).
Additionally, the NBLO's liabilities last year amounted to 3.9 million manat, or $2.3 million (an increase of 37.9 percent), and the balance sheet capital - 7.37 million manat, or $4.34 million (an increase of 12.4 percent).
To note, the Finance for Development NBLO was established with an authorized capital of 300,000 manat ($176,470) in 2002.
