Azerbaijan’s AG Bank finishes 2018 with profit
Baku, Azerbaijan, Jan. 22
By Taleh Mursagulov – Trend:
Azerbaijan’s AG Bank completed the fourth quarter of 2018 with a profit of 5.37 million manats, Trend reports with reference to the bank’s financial report.
For the same period in 2017, AG Bank’s losses amounted to 6.69 million manats.
In the fourth quarter of last year, the bank’s interest income reached 17.59 million manats (23.06 million manats a year earlier), while non-interest income reached 34.5 million manats (27.55 million manats). The bank’s interest expenses amounted to 16.53 million manats (22.04 million manats), while non-interest expenses stood at 38.13 million manats (33.79 million manats).
The total assets of AG Bank during the period amounted to 496.2 million manats, increasing by almost 1.6 percent over the year.
In the assets, 16.73 million manats accounted for cash (11.77 million manats a year earlier). About 47.96 million manats accounted for nostro accounts in other banks (15.19 million manats).
The bank’s loan portfolio in the fourth quarter of last year amounted to 245.69 million manats, which is almost 13.16 percent less than in the last quarter of 2017.
The total liabilities of the bank amounted to 444.14 million manats compared to 441.23 million manats a year earlier. The biggest part of the liabilities accounted for the deposit portfolio - 236.84 million manats, which increased by 9.33 percent over the year.
The liabilities of AG Bank to other banks and financial institutions amounted to 20.91 million manats. Over the year, the bank's liabilities increased by 13.77 million manats.
The share capital of AG Bank is 103.8 million manats and the total capital is 52.36 million manats.
(1.7 AZN = 1 USD on Jan. 22)
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