16:32 - 25.07.2023
July 25, Fineko/abc.az. Credit unions in Azerbaijan completed the 1st half of 2023 with net loss of AZN 400,000 (4-fold more versus Jan-Jun 2022), ABC.AZ informs with reference to the Central Bank of Azerbaijan.
Over Jan-Jun, the income of credit unions amounted to 1.2 million manats (28.6% more than a year earlier) and expenses – AZN 700,000 (AZN 900,000 more).
As of July 1, 2023, the assets of credit unions totaled AZN 13.1 million (10.3% less than a year ago). This year, the sector's loan portfolio has decreased by 10.5%.
Credit unions’ liabilities decreased by 26.5% to AZN 3.6 million and the balance sheet capital by 2.1% to AZN 9.5 million.
