Azerbaijan’s Bank Respublika increases net profit by almost 19 times
Baku, Azerbaijan, August 1
By Eldar Janashvili - Trend:
Azerbaijan’s Bank Respublika completed the first half of 2019 with a net profit of 12.83 million manats, while the first half of the previous year was completed with a profit of 638,000 manats, Trend reports referring to the bank’s financial report.
The bank increased its profit by 18.8 times over the year.
According to the report, net income was formed through interest income of 31.55 million manats (a 77.5-percent increase over the year) and non-interest income of 27.39 million manats (a 38.8-percent increase).
The interest expenses amounted to 13.87 million manats (a 68.5-percent increase) at the end of June 2019, while non-interest expenses amounted to 24.26 million manats (a 33.2-percent increase).
Operating income for the year increased 7.4 times and amounted to 20.81 million manats, compared to 2.81 million manats during the same period last year.
Deductions for creating a special reserve for the compensation for possible losses on assets amounted to 7.97 million manats, having increased by 3.7 times when compared to the same indicator for the previous year.