Azeri Micro-Financing Bank alloted $23 mln. of credit

In mid-March the bank allocated 3,500 credits worth $8.5m. Annually the bank allots 700 credits worth $100,000-125,000 at annual rate of 18-36%. Thaj to growth of credit portfolio the AMFB will assimilate the last tranche ($1m) of the EBRD's credit line ($5m).

In April the Bank plans to open its branch in Ganja, while in the second quarter it will set up the admission of deposits.

The AMFB's paid statutory capital is equal to $6.85m, and 25.6% of its stock is held by the International Finance Corporation and the Black Sea Bank for Trade and Development. 24.9% of them fall on KfW, 18.2% - on the EBRD and 5.7% - on he managing company LFS Financial Systems GmbH.