FINCA Azerbaijan, the top non-banking microlender in the country, ended the first quarter of 2023 with an 80% increase in net income as compared to the same period for the previous year. The first quarter performance statistics also showed 55m AZN of loan portfolio with 37% increase and 27000 clients with 33% growth during last 12 months.
FINCA Azerbaijan’s equity for the first three months of this year was 16.2m AZN, which creates a comfortable foundation to continue making solid progress in supporting more rural entrepreneurs in Azerbaijan.
“The Q1 results clearly speak FINCA’s attention and direction towards developing our digitally focused lending operations to improve customer service and increasing communication channels to interact with clients,” says Timothy Tarrant, FINCA Azerbaijan’s CEO.
“The highly sustainable business model also attracts local investors, as FINCA was successfully able to place its fourth bond placement at the Baku Stock Exchange this March.”
As a member of a global network that ethically offers impactful financial services to help low-income people and communities invest in their futures, FINCA Azerbaijan has kept its loan product offerings diverse in order to meet expanding market needs.
About FINCA Azerbaijan
FINCA Azerbaijan is a leader in responsible finance, serving small businesses across the country with loan products to promote profitable business activity. Launched in 1998, FINCA Azerbaijan is part of FINCA Impact Finance’s global network of 16 banks and microfinance institutions, reaching more than 2.8 million clients in five continents.
For more information about FINCA Azerbaijan activities please visit https://finca.az/ or official social media accounts.