Baku, Azerbaijan, July 19
By Kheyraddin Nasirzade - Trend:
VTB Bank Azerbaijan completed the first half of 2019 with a net profit of 4.712 million manats, while the first six months of the previous year were completed with losses of 250.371 million manats, Trend reports referring to the bank’s financial report.
According to the report, the net income was formed through interest income of 4.174 million manats and non-interest income of 2.306 million manats.
The interest expenses at the end of June 2019 amounted to 2.639 million manats, while non-interest expenses amounted to 7.613 million manats.
The reserve fund for covering potential losses of assets amounted to 8.458 million manats.
As a result, the bank's net profit as of July 1 amounted to 4.712 million manats.
Follow the author on Twitter: @1nasirzade