12:39 - 30.04.2024

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April 30, Fineko/abc.az. The Entrepreneurship Development Fund (under the Ministry of Economy of Azerbaijan) completed 2023 with net profit of 12.503 million mantas (19.4% less than in 2022), ABC.AZ informs, referring to EDF’s report.

In 2023, EDF’s main operating (interest) income amounted to 20.341 million mantas (52.8% more than a year earlier); other (non-interest) operating income – 438,000 manats (2.4-fold less than in 2022); income for reimbursement of probable loan losses - 1.771 million manats (5.1-fold less than in 2022); operating expenses – 7.442 million manats (11.5% more than in 2022); income tax payments – 2.605 million manats (2.3-fold more than in 2022).

As of January 1, 2024, EDF’s assets amounted to 1.01 bn mantas (6.3% more than a year earlier). 680.693 million manats of them are debts given to credit institutions.

In 2023, the EDF loan portfolio dropped by 2.7%.

Over the reported term, Fund’s liabilities increased 41.9-fold up to 837,000 manats, including obligations for state subsidies of 825,000 manats, and the balance sheet capital increased by 6.2% up to 1.01 bn manats.