16:56 - 24.07.2023

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July 24, Fineko/abc.az. The pre-tax profit of 23 out of the 56 non-bank credit organizations operating in Azerbaijan was higher last year than a year earlier.

ABC.AZ reports that among them are Kəpəz, IDK, Optimal Finance, Finance for Development, International, Asel Kredit, Azinvestkredit, PSG Finans, MJ Financial Services, Premier Kredit, City Finance, TBC Kredit, Qafqaz Kredit, Ideal Kredit, Avrasiya-Kredit, Kredex, Finoko, Regional, FINKA Azərbaycan, MCB, Viator Mikrokredit Azərbaycan, Finans Kredit, and Aqrarkredit.

The highest dynamics was recorded on Kəpəz (18.2-fold) and the lowest on Aqrarkredit (0.2%).

The profit before taxation of 10 NBCOs declined — Azkredit, Embafinans, Pro Kredit, M Bulak, Merkuri, Effektinvest, Kredit Servis, Brand Credit, Falcon Finance, and TCF. The largest decrease was recorded on TCF (45%) and the smallest on Azkredit (0.7%).

Losses of 8 NBCOs — Caspian Invest, FNC, BirKart, Azerbaycan Micro-Kredit, Finance Invest, Finex Kredit, SF Azerbaijan and Azeri Star Micromaliya increased before taxation, and the loss of four NBCOs — Executive Credit Agency, Prior Credit, Para and Kredagro reduced before taxation.

Three NBCOs – Azpul, Fintrend and Nas Project completed 2022 with profit before tax, 2 NBCOs — Azfinans and Azmikroinvest completed last year with loss before tax, and the previous year with profit before tax, 1 NBCO — Finkapital has profit in 2022, but had no profit and loss in 2021, and 1 NBCO - ASET Financial Technologies had losses last year, but had no profit and loss in the previous year. Therefore, it was not possible to calculate the dynamics of profit (loss) of these credit institutions before taxation.