10:46 - 26.04.2024

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April 26, Fineko/abc.az. Credit unions of Azerbaijan completed the 1st quarter of 2024 with loss of 800,000 manats.

ABC.AZ reports with reference to the Central Bank of Azerbaijan that the figure is 60% more versus Q1 of 2023.

Over Jan-Mar 2024, credit unions’ income amounted to 700,000 manats (unchanged versus the annual comparison), expenses – 300,000 manats (unchanged), transfers to special reserves - 1.1 million manats (22.2% more).

As of April 1, 2024, credit unions’ assets totaled 12.6 million mantas (3.8% less than a year ago). Of them, 10.9 million manats are net loans given to customers. Over Jan-Mar 2024, the sector's loan portfolio decreased by 3.5%. The liabilities of credit unions reduced by 5.5% to 3.4 million manats, and the balance sheet capital by 3.2% to 9.2 million manats.