Azerbaijan’s Premium Bank increases profit 10 times

Finance Materials 24 January 2019 13:22 (UTC +04:00)

Baku, Azerbaijan, Jan. 24

By Taleh Mursagulov - Trend:

Azerbaijan’s Premium Bank completed the fourth quarter of 2018 with profit worth 16.07 million manats, which is 10 times more than in the same period of the previous year, Trend reports with reference to the financial report of the bank Jan. 24.

In the fourth quarter of 2018, the bank’s interest income reached 37.56 million manats (27.8 million manats a year earlier), while the bank’s non-interest income reached 21.57 million manats (18.61 million manats).

The bank's interest expenses amounted to 14.8 million manats (18.61 million manats), while the non-interest expenses amounted to 34.54 million manats (25.31 million manats).

The total assets of Premium Bank during the reported period amounted to 646.28 million manats, increasing by almost 34.54 percent over the year.

In the assets structure, 35.16 million manats accounted for cash (37.2 million manats a year earlier).

The bank’s loan portfolio in the fourth quarter of last year amounted to 584.6 million manats, which is almost 37.87 percent more than in the last quarter of 2017.

The total liabilities of the bank amounted to 511.56 million manats compared to 356.09 million manats a year earlier. The biggest part of the liabilities accounted for the deposit portfolio - 466.08 million manats, which increased by 92.74 percent over the year.

Premium Bank’s liabilities to the Central Bank of Azerbaijan amounted to 22.5 million manats. Over the year, the bank's liabilities increased by 5 million manats.

The bank’s share capital is 104.6 million manats, while the total capital is 130.44 million manats.

(1.7 AZN = 1 USD on Jan. 24)


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