Net profit of Azerbaijan’s Premium Bank decreases
Baku, Azerbaijan, July 26
By Kheyraddin Nasirzade - Trend:
Azerbaijan’s Premium Bank (formerly Bank Silk Way) completed the second quarter of 2019 with a net profit of 7.853 million manats, which is 35.9 percent less than in the same period last year, Trend reports with reference to the financial report of the bank.
The bank’s net profit was formed at the expense of interest income of 21.513 million manats and non-interest income of 10.077 million manats. Interest expenses, in turn, amounted to 9.338 million manats, while non-interest expenses stood at 15.158 million manats.
As a result, operating income amounted to 7.087 million manats. Special reserve to cover possible losses of assets amounted to 1.513 million manats.
After deducting income tax in the amount of 747,000 manats, net profit amounted to 7.853 million manats.
Premium Bank has been operating since Jan. 25, 2008.
($1= 1.7 manats on July 26)