Baku, Azerbaijan, July 17
By Kheyraddin Nasirzade - Trend:
Azerbaijan’s PASHA Bank at the end of the first half of this year increased its net profit by 2.5 percent at the end of the first half of this year compared to the same period last year, Trend reports with reference to the financial report of the bank.
The bank’s net profit at the end of June amounted to 16.022 million manats, according to the report.
The profit was formed at the expense of the bank’s interest income worth 47.707 million manats, increasing by 17.9 percent for the year and the bank’s non-interest income worth 11.787 million manats (an 85 percent growth).
The bank’s interest expenses amounted to 8.667 million manats, while non-interest expenses amounted to 27.848 million manats, which consist of personnel, administrative and depreciation expenses.
In addition, the bank’s net commission income for the reporting period amounted to 6.467 million manats. Revenues from currency transactions amounted to 5.132 million manats.
As a result, the bank’s net profit amounted to 16.022 million manats.
( 1 USD = 1.7 AZN on July 17)