NBCO suffered net loss of over AZN 236,000


May 27, Fineko/abc.az. NBCO Executive Credit Agency LLC completed 2021 with net loss of AZN 236,102. At that, the organization has summed up 2020 with net loss of AZN 761,630.

So, compared with 2020, organization’s losses decreased by 3.2 times last year.

ABC.AZ reports that Executive Credit Agency’s interest income for 2020 amounted to AZN 87,751 and AZN 83,913 for 2021.

The net loss relates to the transfer to the reserve for credit losses. AZN 762,552 were directed for the reserve in 2020 and AZN 237,881 in 2021. Last year, ECA’s loan portfolio (loans given to customers) decreased by 20% to AZN 939,401.