Baku, Azerbaijan, July 23
By Eldar Janashvili - Trend:
Azerbaijan’s Gunay Bank OJSC completed the first half of 2019 with a net profit of 752,000 manats, which is by 22 percent more than last year, Trend reports with reference to the financial report of the bank.
The bank completed the first half of the previous year with a profit of 616,000 manats, according to the report.
The bank’s net profit was formed at the expense of interest income of 5.815 million manats (a 35.1 percent growth over the year) and non-interest income of 3.608 million manats (a 33 percent reduction).
The interest expenses at the end of June this year amounted to 4.316 million manats (a twofold increase), while non-interest expenses stood at 3.851 million manats (an increase of 24 percent).
Operating profit for the year decreased by more than six times and amounted to 603,000 manats, compared to 3,916 manats in the same period last year.
($1= 1.7 manats on July 23)