Azerbaijan’s Unibank increases profit in 2018
Baku, Azerbaijan, Dec. 26
By Taleh Mursagulov – Trend:
Azerbaijani Unibank's profit amounted to 30 million manats according to the international financial reporting standards in 2018, Chairman of the Board of the Bank Faig Huseynov told Trend on Dec. 26.
In the reporting period, the bank’s loan portfolio grew by almost 20 percent compared to the same period of 2017. The microcredit portfolio reached 40 million manats.
Huseynov stressed that there is a decrease in the portfolio of bad loans.
"The deposit portfolio of the bank in 2018 increased by 25 percent compared to the same period of 2017 and amounted to 300 million manats," he said.
Speaking about plans for 2019, Huseynov stressed that Unibank plans to continue issuing loans to strengthen the direction of digital banking.
"Being participants in the Entrepreneurship Development Fund Program, we intend to actively issue loans for the agricultural projects, in particular in the field of agricultural processing," he said.
By the end of 2017, Unibank's net profit amounted to 4.044 million manats.
(1.7 manats = $1 on Dec. 26)
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