Today.Az » Business » Azerbaijan Micro Finance Bank's loan portfolio tripled
02 February 2007 [00:41] - Today.Az
Azerbaijan Micro Finance Bank trebled its loan portfolio to US $47.6mln at early January, 2007.
Bank's Head Office told the APA that its loan customers rose to 16,300 from 5,400 during 2006. 40,000 loans worth $115mln were lent during the bank's four year activity, average loan is $3,000. The assets more than doubled to AZN 55.6mln, branches reached 10 in number. Asian Development Bank, Triodos Fund, Oikocredit, Global Microfinance Facility and other international organizations opened a credit line of $14.5mln in total on-lending to micro, small and medium-size enterprises. Azerbaijan Micro Finance Bank is owned by five shareholders: the European Bank for Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank and LFS Financial Systems GmbH.
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