Expressbank closed first quarter of 2019 with profit
Baku, Azerbaijan, April 30
Expressbank OJSC, one of the leading banks in Azerbaijan which gives value to transparency in working principles and customer relationships has highlighted its financial statements for the first quarter of 2019.
In the first quarter of the current year, Expressbank successfully increased its net profit and strengthened its sustainability indicators compared to the same period of the last year by successfully delivering customers with derivative financial products. AZN 229 thousand were allocated for created reserves and net profit increased by 78% compared to the same period of the last year and amounted to AZN 1 million 336 thousand. The annual profitability of the capital in the first quarter was 4.4%.
From the beginning of 2019, the loan portfolio of the bank increased by 27% amounting to AZN 240 million 830 thousand compared to the first quarter of the last year. Further, as a result of the effective management of credit risks the problematic portion of the portfolio fell from 2.6% to 1.87% compared to the same quarter of the previous year.
Expressbank targeted at providing customers with a high level of service and getting a reliable partner, explicitly demonstrates the growing trust of the population to the bank, with a high financial sustainability compared to the first quarter of 2018. As a result, deposits increased by 15% to AZN 99 million 658 thousand. In the first quarter, interest income of the bank amounted to AZN 9 million 318 thousand and interest expenses to AZN 2 million 470 thousand.
For more details on the report data see the link below:
Link: 2019 - CU I REPORT REPORT
Expressbank which operates in retail and business banking with extensive financial products and services, has 15 branches throughout the country. For more information about banking services, dial 132 Call Center or visit us at www.expressbank.az or official pages of the bank on social networks.