Net profit of Azerbaijan’s Bank of Baku grows

Business Materials 22 July 2019 19:24 (UTC +04:00)

Baku, Azerbaijan, July 22

By Eldar Janashvili - Trend:

Azerbaijan’s Bank of Baku LLC completed the first half of 2019 with a net profit of 32.3 million manats, while the first half of the previous year was completed with a profit of 1.836 million manats, Trend reports with reference to financial report of the bank.

During the year, the bank increased its profit by 17.6 times, according to the report.

The bank’s net income was formed at the expense of interest income of 20.86 million manats and non-interest income of 3.7 million manats.

The interest expenses at the end of June this year amounted to 6.18 million manats, while non-interest expenses stood at 44.43 million manats.

The net profit of the bank without taxes for the year increased by more than 22 times and amounted to 40.64 million manats.

Taxes paid from the profit amounted to 8.356 million manats.

($1 = 1.7 manats on July 22)