Baku, Azerbaijan, July 23
By Kheyraddin Nasirzade - Trend:
The International Bank of Azerbaijan (IBA) at the end of the second quarter of this year increased its net profit by 30.7 percent compared to the same period last year, Trend reports with reference to the financial report of the bank.
The bank’s net profit amounted to 300.34 million manats at the end of June this year, which is 70.548 million manats more than last year.
The profit was generated from interest incomes of 219.74 million manats and non-interest incomes of 64.763 million manats. Interest expenses amounted to 48.306 million manats, while non-interest expenses stood at 72.154 million manats.
As a result, operating income amounted to 164.043 million manats.
The volume of the special reserve to cover losses on the bank’s assets amounted to 136.297 million manats.
As a result, the bank’s net profit amounted to 300.34 million manats.
($1= 1.7 manats on July 23)