Micro Finance Bank of Azerbaijan grown 100% in 2006

• Bank balance has grown from 21.8 mln. USD to 45,2 mln. USD
• Credit portfolio has grown from 17,3 mln. USD to 35,5 mln. USD
• The number of credit clients has grown from 5 700 to 11 692
• Total amount of deposits has grown from 600 000 USD to 3,5 mln.

2 383 loans with the amount of 5 887 000 AZN (6 690 000 USD), including 1769 business loans with the amount of 5 508 000 AZN (6260 000 USD) and1 689 micro-credits with the amount of 2 960 000 AZN (3 364 000 USD) have been disbursed.

Except for business loans Azerbaijan Microfinance Bank develops consumer crediting. This kind of crediting is very famous among people and there is a great demand for it. The indicators of consumer crediting for September again were high: 603 credits (nearly 25 credits a day) were disbursed to clients with the total amount of 325 000 AZN (370 000 USD).

The sum of money in current accounts until the 1st of October was 880 000 AZN (1000 000 USD), what is three times more than the indicators calculated until the 1st of January, 2006.

The amount of deposits until October 1 was 2 184 000 AZN (2 482 000 USD) what is nine times higher than the indicators until January 1, 2006, APA reports.

MFBA also works hard in order to develop plastic cards. 3 more ATMs have been joined to the sole growing network of ATMs of MFBA. In September “Bistraya pochta”, which is popular enough among Azeri people, one of the fastest systems of CIS has been added into the list of other money transfer systems working in MFBA.

Azerbaijan Microfinance 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.